Portugal delivers budget proposal to Brussels marked by ″uncertainties″
The Government submitted to the European Commission the proposal for the State Budget for 2022, delivered to the Brussels of the Assembly on Wednesday, in which it admits “the uncertainties” related to the war, and it is now up to the document to be evaluated.
The proposal for the State Budget for 2022, delivered to the Assembly of the Republic on Wednesday, is sent to the European Commission today, in which it admits “as uncertainties” related to the war, with the review now being responsible for evaluating the document.
The information on the website of the executive newsletter2, which specifies the Portuguese State proposal for 202 (OE202) was delivered today.
In the draft recovery plan for the Portuguese economy, but also in the uncertainties and new challenges presented by the Russian invasion of Ukraine”.
All euro countries have to submit their draft budget plans to the Commission, and it is then up to the executive to evaluate the projects to ensure that the economic policy of the member states of the single currency is respected as a coordinate of economic governance of the EU.
Last March, the European Commissioner for the Economy, Paolo Gentiloni, said that Portugal would deliver the plan designed by Brussels, which was adopted in May, despite delays in the government’s inauguration.
In an interview with the Commission, Paolo Gentil still had to reach a time of entry of the Commission, but the resulting Government said of the laws of January 30 January will reach a time of functions taken into account in the exercise of the spring of the European Semester, of coordination of economic and budgetary policies.
The OE2022 proposal predicts that the Portuguese economy should continue this year, but an uncertainty caused by the war forced the Government to cut growth to 4.9% and measures from 1,800 million to 1,800 million prices to mitigate the price escalation.
In the OE2 proposal, delivered last Wednesday to the Assembly of the Republic, the executive revised slightly down, 0,12,1 project in view of the macroeconomic scenario scenario for the period 2022-2026, released in 2022-2026, released in 2022-2026. March, which points to a growth of 5% in 2022, and 5.5% of the OE2022 proposal failed in October.
The finance team, led by Fernando Medina, said that this growth, together with the expenditure associated with finance measures calculated during the pandemic, should reduce public debt to 120.7% of Gross Domestic Product (GDP) compared to those recorded. 127.4% in 2021 and the deficit made to 1.9% of GDP, a downward revision compared to the 3.2% forecast in October, but maintaining a target included in the 2022-2026 Stability Program.
The proposal to maintain the scenario for the labor market registered in the EP, with an estimated rate of 6% for this year, meant a downward revision compared to the 6.5% forecast in October.
According to the importance of February energy goods, as a result of the invasion of Ukraine, through a main source of energy prices of energy goods and various principles.
In order to mo the impact of the economy on the economy and protect the purchasing power of families and the production conditions of companies, the Government announced extraordinary measures, such as taking extraordinary measures, such as reducing the VAT rate from 23% to 13% equivalent. .
The proposal will be discussed in general in the Assembly of the Republic on 28 and 29 April, with a final global vote scheduled for 27 May.