Portugal presents its 2020 budget project, it set Tuesday to reach a budget surplus for the first time in 45 years of democracy, these thanks to a solid economic growth. Let's remember that this growth is achieved thanks to the tourist sector and therefore remains fragile.
In return, the government has committed to reducing small business tax.
In his project of the 2020 budget, the socialist government projects a surplus representing 0.2% of gross domestic product (GDP), compared with a deficit of 0.1% expected at the end of 2019.
Cela donnera une impulsion supplémentaire pour résorber la dette du pays, l’une des plus importantes de la zone euro. Le ratio de dette du Portugal par rapport au PIB devrait tomber à 116,2% en 2020, contre 118,9% cette année, toujours selon le budget prévisionnel.
Le gouvernement minoritaire d’Antonio Costa, qui a obtenu en octobre dernier un second mandat, espère atteindre une croissance économique de 1,9% l’an prochain, identique à celle de 2019.
Le gouvernement prévoit d’alléger la pression fiscale sur les classes moyennes en instaurant de nouvelles tranches d’impôt intermédiaires et des subventions supplémentaires pour les familles nombreuses.
SMEs with annual taxable profits of less than 25,000 euros will see their tax at drop to 17% against 21% currently.
In return, taxes on tobacco, lotteries and high-sugar drinks will increase.
Le gouvernement prévoit l’augmentation de 0,3% de la rémunération moyenne dans la fonction publique et 800 millions d’euros vont être injectés afin de réduire la dette du secteur de la santé.
The 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.
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