Portugal spent 2.5 billion euros on state aid due to the Covid-19 pandemic in 2020 – Portugal
Portugal spent, in that total of 2.5 million euros with state aid for Covid-19, in that total of 2.5 million euros due to the Covid-19 pandemic, corresponding to 72.9% of total public support, above the European average.
The data are part of a 2021 scoreboard on aid measures adopted in the European Union (EU) to face the impacts of the pandemic, released this Thursday by the European Commission, in which it is indicated that “in 2020, the related with Covid-19 for Portugal amounted to 2,558.6 million euros, that is, 72.9% of total expenditure on state aid”.
This percentage compares with expenditure on state aid related to Covid-19 at EU 27 level, at 59.3%.
In addition to this percentage of 72.9% directed by Portugal to “remediate a serious disturbance in the economy”, public support for regional development stands out in the country at 14.4% of the total, as well as aid for small equivalents and medium-sized companies and venture capital (5.1%) and for research and development (3.3%), in a total of 94 state aid measures developed in 2020.
According to the executive’s report, Community in 2020, the Member States (plus the United Kingdom, which was still considered for these data) grant 384.33 billion euros under state aid measures, of which 227.97 thousand million euros is aimed at the pandemic, for measures such as seriously informed companies.
The completion of the European Times Commission itself is a crucial role of the State Aid Commission in preserving at the same time a unique and impartial crisis policy.
In all, between 2010 and 2020, Portugal spent 13.8 billion euros on state aid, the institution said.
In March 2020, due to the effects of the European Pandemic Commission, the European Commission can support its economies, the initiative that came to extend EU support to its economy, normally prohibited, rules, which translates into other financial with guarantees state, grants,.