MAJ: PORTUGAL WILL PAY THE DEBT TO THE IMF

UPDATE 11/12/2018: Portugal has just proceeded to the settlement of the totality of the debt with the IMF. This allows Portugal to save a thousand million over two years. 

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The Prime Minister announced yesterday that Portugal will pay until the end of the year the totality of the debt to the International Monetary Fund (IMF). In a speech in which he stressed the importance of reducing costs for the future.

With the same determination with which we have governed and which allows me to announce today that by the end of this year. We will pay the totality of the debt to the IMF, 4.6 million euros.

 Antonio Costa, in Parliament

Said Antonio Costa, in Parliament, yesterday before moving to the final overall vote of the state budget for the year 2019.

The chief executive argued that this step for the early repayment of the debt to the IMF will "strengthen the international credibility" of Portugal abroad.

António Costa made clear that the government's proposal for the budget. Has the goal of building a future, "first, improving sustainability, continuing the trend of reducing public debt. By reducing costs and improving the financial stability of social security."

With respect to the budget proposal. The Prime Minister expressed his belief that by promoting employment and increasing wages. Improving the revenue of contributions, which also diversifies the sources of funding.

Tax relief 

António Costa also indicates that the Portuguese families will feel from next year. An increase of the purchasing power by IRS relief. But also the household income will benefit from a reduction in the cost of transportation and energy.

"The Portuguese wallet will be further mitigated with regard to the costs of public transport. Covering the entire national territory. The Program of Support to the Reduction of Public Transport Fares will incorporate measures, including lowering the price of social packages. This budget that improves the life of all Portuguese, whether they are more or less, "he advocated.

Education

António Costa made special reference to education. Indicating that the families " will benefit from the extension of free textbooks to all students attending compulsory education in public schools. This represents 1.2 million students. But also by reducing the value of the maximum tuition fees charged in universities and polytechnics.

Health

Also according to the Prime Minister. Next year the national health service will benefit from a budget increase of about 500 million euros. This will allow the creation of about 113 health centers. As well as the construction of five new hospitals.

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For António Costa, the government's budget proposal "clearly expresses the change in policy that began three years ago."