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Europe Daily Bulletin No. 12631
ECONOMY - FINANCE - BUSINESS / Economy

Main lines of Portuguese recovery plan, according to Pedro Siza Vieira

On Thursday 7 January, the Portuguese Minister for the Economy and Digital Transition, Pedro Siza Vieira, referenced the national recovery plan that the Portuguese government is drawing up, during a virtual meeting with the press to present the priorities of the Portuguese Presidency of the Council of the European Union.

Mr Siza Vieira cited “the decarbonisation of industry”, notably through investments in energy efficiency, and the use of a cleaner gas such as “hydrogen”. Another priority is to invest in the digital transition to facilitate the “requalification of workers” and changes in internal company processes. Thirdly, public administration, such as justice and health, must carry out its own digital revolution, according to Mr Siza Vieira, so that it is on the same level as the economy and society.

The current President of the ‘Competitiveness’ Council highlighted the fact that expenditure already incurred - from February 2020 - to deal with the Covid-19 pandemic could be covered retroactively by the European Recovery Plan. “In Portugal, the 2021 budget allows for expenditure that will be recovered thanks to the National Recovery Plan”, he said.

Asked in another question and answer session about the need to go even further to respond to the continuing economic and health crises, the Portuguese Prime Minister, António Costa, considered that the priority was first of all to “realise, carry out and ensure the effectiveness of the decisions that have already been taken”. “This is no small feat. Before opening up new debates, we must above all realise what has already been agreed”, he added, convinced that the concept of the Next Generation EU Recovery Plan would have been “unimaginable a few years ago”.

According to the agreed breakdown of the Recovery and Resilience Facility, the budgetary instrument at the heart of the European Recovery Plan, Portugal will receive €9.1 billion in grants and, if it wishes, €4.1 billion in loans.

See the Portuguese draft Recovery Plan: http://bit.ly/3nruUjw (Original version in French by Mathieu Bion)

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