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Vítor Gaspar

Vítor Gaspar
GCIH
Vitor Gaspar.JPG
Minister of State
In office
21 June 2011 – 2 July 2013
Prime Minister Pedro Passos Coelho
Preceded by Luís Amado
Fernando Teixeira dos Santos
Succeeded by Maria Luís Albuquerque
Minister of Finance
In office
21 June 2011 – 2 July 2013
Prime Minister Pedro Passos Coelho
Preceded by Fernando Teixeira dos Santos
Succeeded by Maria Luís Albuquerque
Personal details
Born Vítor Louçã Rabaça Gaspar
(1960-11-09) 9 November 1960 (age 56)
Manteigas, Portugal
Political party Independent
Spouse(s) Sílvia Luz
(m. 1985)
Children Catarina (born 1986)
Marta (born 1991)
Madalena (born 1998)
Alma mater Catholic University of Portugal
New University of Lisbon
Profession Economist

Vítor Louçã Rabaça Gaspar (born 9 November 1960), GCIH is a Portuguese economist and former politician, who served as Minister of Finance and Minister of State from 21 June 2011 until his resignation on 2 July 2013.

Gaspar holds a degree in economics from the Universidade Católica Portuguesa (UCP) in 1982. He received a PhD in economics from the Universidade Nova de Lisboa in 1988.

Gaspar was the director-general for research at the European Central Bank for six years. Then he became an adviser to the Bank of Portugal, having been from 2007 director-general at the Bureau of European Policy Advisers (ERI) with the President of the European Commission.

Without any previous political activity, he was appointed Minister of Finance in Pedro Passos Coelho's cabinet on 21 June 2011. In this capacity, Gaspar's policies included a firm intention to accomplish the European Union/IMF-led rescue plan for Portugal's sovereign debt crisis. The rescue plan consisted of widespread tax increases and reforms aimed at better efficiency and rationalized resource allocation in the public sector, in order to reduce the number of unnecessary civil servants and the public sector's chronic overcapacity.

As time went on it became increasingly clear that a series of supplementary measures would be taken during the course of the year as a means to restrain an out-of-control budget deficit. These included sharp cuts in spending on state-run healthcare, education and social security systems, along with widespread tax hikes.


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