The firm commitment to decarbonization and the rescue of TAP were the two main economic news of the year in our country, in an event that is now remembered by Efe Agency and which was also marked by the announcement of electoral anticipation to solve a political crisis that broke out in November and the impact of the pandemic.

Decarbonization

2021 was the year in which Portugal left behind the production of electricity from coal with the closure of the thermoelectric plants in Sines (EDP) in January and Pego (Endesa and Trustenergy) in November.

In addition, the Government announced in November the investment of $224 million to reduce the economic impact of closing facilities that used non-renewable energy in part of the country. Portugal’s objective was, and is, to achieve carbon neutrality in 2050.

Gasoline at two euros

The price of electricity and fuel threaten to make information in the country soar.

Gasoline reached 2 euros / liter at some pumps in October, a value never seen before in Portugal.

In view of the social unrest, the Government had to intervene and announce a package of measures to help families and businesses with the return of 10 cents per liter, in a maximum of 50 liters per month, until the next month of March.

The rescue of TAP

Other relevant news in the economic context, according to Efe, is about TAP, the main Portuguese airline, normalizing a large oxygen balloon at the end of the year, after the European Commission (EC) gave the green light to public aid worth around 3,200 million euros to favor its viability .

In exchange, a company maintains a fleet of 96 planes, but must disconnect from three of its branches.

Early Elections

The rupture of the left alliance, which supported the socialist António Costa, resulted in a political crisis that prevented the Executive from approving the 2022 Budget in October.

Thus, faced with a government in the minority and without support, the conservative Marcelo Rebelo de Sousa, who began to be re-elected for a new cycle in the Presidency of the country, decided to advance as fully in the middle of the legislature to resolve an uncertainty that could happen precisely to the economy. when the country was starting to recover after the pandemic hit.

At stake are also raised millions of euros from European funds that Portugal has already started to receive and which should contribute to the post-covid recovery.

the fury of the pandemic

Covid-19 in Portugal has been on a roller coaster during 2021, accepts the Efe Agency. THE “Portuguese miracle“, which put the country as a model around the world for controlling the pandemic after severe confinement, has dissipated over the months and the virus has left more than 300 people dead a day.

Hospitals known as saturated, as emergencies collapsed and as intensive care units reached maximum levels.

The restrictions and confinements paid off and the country turned the situation around during the summer, although the Ómicron variant – which represents half of the new contagions – returned Portugal to saturated emergencies, teleworking and the closing of night leisure, mainly in the tourist region of Algarve .