BRUSSELS, April 14 (Reuters) - Portugal's plan for reducing its budget deficit is ambitious and concrete but the country may need additional fiscal cutbacks if economic risks materialise, the European Commission said on Wednesday.
Assessing Portugal's medium-term fiscal programme, European Union Monetary Affairs Commissioner Olli Rehn said in a statement that it was based on "somewhat favourable" macroeconomic assumptions.
"The Portuguese stability programme is ambitious and quite concrete ... but additional measures of fiscal consolidation might be needed especially for this year, if risks to the macroeconomic and fiscal developments materialise," Rehn said. (Reporting by Justyna Pawlak, writing by Marcin Grajewski, editing by Dale Hudson)