Portugal's prime minister ruled out on Friday any intention to seek more emergency funding or to extend a 78-billion-euro bailout, underlining that his government will meet fiscal goals and economic reforms to overcome the country's debt crisis.
This government will neither ask for more money nor more time, Prime Minister Pedro Passos Coelho told parliament during a debate.
Some economists have raised concerns that Portugal will need more funding or even to restructure its debts like Greece as they doubt the country will be able to return to raising financing in bond markets next year as envisaged under the bailout.
But Passos Coelho underlined in the parliamentary debate that his government will meet the terms of the current bailout and bring balance to Portugal's budget and foreign deficits and carry out reforms of the economy.
These are transformations which we need to carry out for the day after correcting our imbalances, to implement a more vigorous economy in Portugal that depends less on public subsidies, he said.
His government has agreed reforms of the labour market and has also promised to deliver changes in the legal system.
On the fiscal side, Portugal is committed to cutting the budget deficit to 4.5 percent of gross domestic product this year. Last year the budget deficit reached 4 percent of GDP, but only after a one-off transfer of banks' pension assets to the state, without which the deficit would have been 7.5 percent.
Officials form the 'troika' of lenders -- the European Commission, European Central Bank and IMF -- are currently in Portugal to carry out the latest review of the bailout.