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LISBON, Portugal — Portugal reached an agreement with officials preparing its European Union-led bailout that will provide as much as $116 billion in aid and allow more time to reduce the country’s budget deficit.
The three-year plan set goals for a budget deficit of 5.9 percent of gross domestic product this year, 4.5 percent in 2012 and 3 percent in 2013, Prime Minister Jose Socrates said in Lisbon on Tuesday.
Denver Post staff and wire reports
