CIP calls for “more rational and intelligent constraints”

The Confederação Empresarial de Portugal wants more tests to Covid-19 and the reinforcement of the offer of public transport “to avoid the crowding of people”. An overwhelming majority of Portuguese companies told the employers' confederation that state support is below needs.

CIP - Confederação Empresarial de Portugal this Monday asked the Government that the measures to contain the economy to mitigate the risk of contagion of Covid-19 be “more rational and intelligent”.

Rafael Campos Pereira, vice president of CIP, spoke today to the media after presenting the 12th survey conducted in partnership with ISCTE's Marketing Future CastLab, about the situation of companies during the economic crisis and warned of the need for “more confinements rational and intelligent ”.

For the head of the employers' confederation, the Government should place more emphasis on testing. "It is possible to test more and isolate more infected people" with the new coronavirus, he said.

Among the 735 companies surveyed, in the week of January 11, 83% considered that the State's support programs have been below or far below what is needed.

Asked what other measures he would like to see taken, Rafael Campos Pereira started by saying that “there is no health without an economy”. "You can't kill the economy because by killing the economy, we are harming Covid-19 and not Covid-19 diseases," he stressed, calling for an increase in the supply of public transport to "prevent the crowding of people".

The vice president of CIP also criticized the Executive for taking so long to take capitalization measures for companies, something that the employers' confederation has been asking for since April and May last year.

“Finally, the Government, in January 2021, announced at Banco de Fomento the creation of credit lines in which 20% of the loaned amount can be converted into non-repayable funds for companies. These are measures that are able to strengthen and capitalize companies ”, said Rafael Campos Pereira.

This Monday, two lines of credit support to the economy were opened by Banco de Fomento. THE "Economy Support Line Covid-19: Industry and Tourism Exporting Companies”Has a global allocation of 1.050 million euros, while“Line of Aid to the Economy Covid-19: Companies of Assembly of Events”Has a ceiling of 50 million euros.

In case of maintenance of the number of jobs by the companies that use these lines, up to 20% of the financing value can be converted into a subsidy.

The two lines provide for a spread maximum 1,25% for one year loans, 1,5% for loans between 1 year and 3 years, and 1,85% for loans for 3 to 6 years.

Asked about the financing conditions, Rafael Campos Pereira said that “in some cases, the interest rate even generically decreases 0,25%”, but “it seems that, in some way, there are less favorable conditions”.

Regarding the possibility of converting 20% ​​of the financed amount into a non-repayable grant, the vice president of CIP said that it is not known whether it will be subject to “some condition”, nor is it known whether 20% of the amounts borrowed “ will necessarily be converted into capital, or not ”.

“The only thing we know, for now, is that it implies [the conversion of 20% of the loans into non-repayments] to maintain jobs, which already meets the will of companies“, Said the head of CIP.

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