&NewLine;<h2 class="wp-block-heading">Portugal presents its 2020 budget project</h2>&NewLine;&NewLine;&NewLine;&NewLine;<p>Portugal presents its 2020 budget plan&comma; on Tuesday, it set itself the target of achieving a <strong>budget surplus</strong> for the first time in 45 years of democracy; these thanks to solid economic growth&period; It should be remembered, however, that this growth is achieved thanks to the tourism sector and therefore remains fragile&period; </p>&NewLine;&NewLine;&NewLine;&NewLine;<p>In return, the government has committed to reducing <a href="https://vivreauportugalconsulting.com/creer-une-entreprise-au-portugal/"><strong><span style="text-decoration: underline;">small business tax</span></strong></a>&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<h3 class="wp-block-heading">2020 Budget Proposal</h3>&NewLine;&NewLine;&NewLine;&NewLine;<p>In his <a href="https://eco.sapo.pt/topico/orcamento-do-estado-2020/" target="_blank" rel="noreferrer noopener" aria-label="projet (opens in a new tab)">project</a> 2020 budget&comma; the socialist government forecasts a surplus representing 0&comma;2&percnt; of gross domestic product &lpar;GDP&rpar;&comma; against a deficit of 0&comma;1&percnt; expected at the end of 2019&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<p>This will provide further impetus to reduce the country's debt&comma; one of the highest in the eurozone&period; Portugal's debt-to-GDP ratio should fall to 116&comma;2&percnt; in 2020&comma; from 118&comma;9&percnt; this year&comma; still according to the projected budget&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;&NewLine;&NewLine;<div style="height:23px" aria-hidden="true" class="wp-block-spacer"></div>&NewLine;&NewLine;&NewLine;&NewLine;<p>Antonio Costa's minority government, which won a second term in office last October, hopes to achieve economic growth of 1&comma;9&percnt; next year&comma; identical to 2019&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The government plans to ease the tax burden on the middle classes by introducing new intermediate tax brackets and additional subsidies for large families&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<h3 class="wp-block-heading">Small businesses are the big winners </h3>&NewLine;&NewLine;&NewLine;&NewLine;<p>SMEs with annual taxable profits of <strong>less than 25&period;000 euros</strong> will see their tax at <strong>down to 17&percnt;</strong> against <strong>21&percnt; currently</strong>&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<p>In return, taxes on tobacco, lotteries and high-sugar beverages will increase&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;&NewLine;&NewLine;<p>The government is planning a 0&comma;3&percnt; increase in average civil service pay, and 800 million&semi;euros will be injected to reduce healthcare sector debt&period;</p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Parliament will vote on the first reading of the draft budget on January 10; it remains to be seen whether the draft budget for 2020 will be validated&period; </p>&NewLine;
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