The government was concerned about the strength of foreign investment in privatizations and wanted to reserve the right to veto some transactions. But, as a member of the EC, Portugal would eventually have to accept investment from other member countries on parity with investment of its nationals. Significantly, government proceeds from privatization of nationalized enterprises would primarily be used to reduce public debt, and to the extent that profits would rise after privatization, tax revenues would expand. In 1991, proceeds from privatization were expected to amount to 2.5 percent of GDP.