The International Monetary Fund believes that austerity measures taken until now are sufficient to fulfill the deficit targets set for this year and the next, but anticipates more cuts for 2015, writes Diário de Notícias.

In a report released on November 13, the institution says that in 2015 Portugal will have to further reduce wages and pensions to achieve a sustainable balance of payments in the public accounts.

The IMF believes that Portuguese economic activity will remain stable until the end of 2013, beginning to gradually recover in 2014, but warns that there are still "significant risks" ahead. Among them is the possibility that the Constitutional Court will reject some elements of the government’s 2014 Budget.