Nthe report that accompanies the State Budget proposal for 2022, the executive foresees “the delivery of 295 million euros by Banco de Portugal and 200 million euros by Caixa Geral de Depósitos”.
For this year, according to the 2021 State Budget, the Government expects to receive 534.1 million euros in dividends from CGD (159.6 million euros) and from Banco de Portugal (374.5 million euros).
Referring to 2020, the Irish State 428 million euros in dividends from Banco de Portugal.
For its part, CGD paid just 83.6 million euros, well below the forecast in a year marked by the precautionary recommendation of the European Central Bank (ECB) to banks following the covid-19 crisis. However, CGD is considering making an extraordinary dividend payment of 300 million euros at the end of this year, according to Jornal de Negócios.
Also in this document, in relation to CGD, the Government highlights the conclusion of the 2017-2020 strategic plan, agreed with the European Commission in the recapitalization of the bank, the improvement of capital ratios and profits of 294.2 million euros in the first half of 2021.
According to the executive, this result translates into “a return on equity (ROE) of 7.2%, which allows for the ability to pay dividends to the State shareholder, thus repaying the taxpayers’ effort”.
The report released today also indicates that Banco de Fomento should pay dividends in 2022, with the Government expecting to receive 2,625 million euros from this public financial entity.
On Monday night, the Government delivered to the Assembly of the Republic a proposal for the State Budget for 2022 (OE22), which forecasts that the Portuguese economy will grow 4.8% in 2021 and 5.5% in 2022.
In the document, the executive estimates that the deficit of national public accounts should be 4.3% of the Gross Domestic Product (GDP) in 2021 and drop to 3.2% in 2022, also predicting that the Portuguese unemployment rate will decrease to 6.5% next year, “reaching the lowest value since 2003”.
Public debt is expected to reach 122.8% of GDP in 2022, compared to an estimate of 126.9% for this year.
The first parliamentary debate process of OE2022 will take place between October 22nd and 27th, the day on which the general vote will be taken. The final global vote is scheduled for November 25, at the Portuguese Parliament in Lisbon.
The Minister of Finance, João Leão, presents the proposal today, at 9:00 am, at a press conference in Lisbon.
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