Miranda Sarmino: A 10 -billion plan has no effect on budget – general financing
The government guarantees that 10 billion euros plan to support Portuguese export companies compared to the definitions announced in the United States “There is no effect on the budget”, although 200 million can be converted into subsidies.
“The plan we presented on Thursday is a plan, from the budget point of view, has no effect,” Finance Minister Jokim Miranda Sarmino said in an interview with Losa Dias after the government announced a package of measures.
He explained: “The plan contains a component of the Portuguese Development Bank, which is an entity outside the vicinity of public accounts, (…) Then there is a part of the export insurance that was conducted in Cosec, which is an entity currently being held by private companies, and there is a re -programming for programming 2030 from European funds, and from the budget budget point.
“To have an effect on the budget, (…) will happen at the end of the loans, within five or six years, with a very small margin of these loans,” said Joaquim Miranda Sarmento.
“We are talking about a very small amount in terms of grants, compared to 10 billion of the program,” in the range of 200 million euros, the ruler added, explaining that the “small parts” of the credits that, if the company meets the criteria related to employment and investment, the state may assume.
“There is a very small part of this loan that can be converted into support and therefore it is not paid,” he said, stressing that “the budget effect of this program is angry.”
This position arises after Friday, the European Commission has requested “caution in the budget response” to the European Union countries (EU) for the definitions announced by the United States.
“On the European Commission’s side, our first evaluation is that we need to be somewhat careful in our budget response. We faced the Covid-19 epidemic, we had a power crisis related to the aggression of Russia in Ukraine, and we face serious security challenges, and we have high debts and debts,” Spanish.
The Portuguese program will cover the exporting companies on the basis of Portugal.
At the end of this week, the European Union’s finance ministers analyzed the economic impact of the new customs definitions in the context of relief after the American announcement of the temporary suspension, which was also adopted by the community bloc.
European Commission accounts stated that the new American customs rights mean losses of 0.8 % to 1.4 % in the GDP (GDP) by 2027, a percentage of 0.2 % of GDP in the case of the European Union.
In the worst scenario, if the customs rights are permanent or other contracting, the economic consequences will be more negative, up to 3.1 % to 3.3 % for the United States and 0.5 % to 0.6 % for the European Union.
Globally, the executive community estimates a loss of 1.2 % in global GDP and a 7.7 % decrease in global trade in three years.
In the interview with Losa, Joaquim Miranda Sarmento also said that the government is watching such monuments, “It will depend a lot on what is the final situation” in American protectionist decisions, while maintaining growth prospects. He concluded that “the situation is difficult, and the danger is very high.”
