Conselho de Finanças Públicas estimates that 80% of the impact on the balance results from spending on subsidies (more than half) and the loss of contributory revenue.
The institution chaired by Nazaré da Costa Cabral warns of the importance of a “prudent” macroeconomic scenario in a context of high uncertainty, which it considers not to happen in the Supplementary Budget proposal. It also warns that the total impact of the measures implemented in the context of the pandemic may be greater than estimated.
“Insufficiencies” and “difficulties” in obtaining information: CFP destroys transparency of the Supplementary Budget
The Council of Public Finances strongly criticizes the detail of macroeconomic information included in the Supplementary Budget. It also argues that the absence of an assessment of economic projections by the institution weakens the “institutional strength and the very credibility of these forecasts”.
The evolution represents a jump of 2,3 billion euros compared to the previous month. This increase was mainly due to the issues of securities made in May, mainly long-term issues.
From support to managing partners to extraordinary support to unemployed: the negative coalitions that the PS today must face
Socialists yesterday called for the postponement of several blocs in the vote on the specialty, many of which should be made possible through voting in favor of the opposition and the partners on the left. The exclusion of companies based in offshores from public support was agreed between the Government and the Bloc and should pass.
Asked whether letting TAP go bankrupt is not a hypothesis, the President of the Republic was categorical in stating that "it is certainly not a hypothesis that allows Portugal to have a company that safeguards Portuguese interest".
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