In the first week of May 2013, Prime Minister Passos Coelho announced a significant government plan for the public sector, whereby 30,000 jobs will be cut and the number of weekly working hours will be increased from 35 to 40 hours. Coelho reaffirmed the announcement by explaining that austerity measures are necessary if Portugal seeks to avoid another monetary bailout grant from the European Commission, European Central Bank and International Monetary Fund—the overall plan intends to enact further cuts of €4.8 billion over a three-year period.