MAJ: PORTUGAL WILL PAY THE DEBT TO THE IMF

PORTUGAL TO PAY ITS IMF DEBT BY THE END OF THE YEAR

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. 

The Prime Minister announced yesterday that Portugal will pay its entire debt to the International Monetary Fund (IMF) by the end of the year. 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 entire IMF debt of 4.6 million euros.

 Antonio Costa, in Parliament

Antonio Costa told Parliament yesterday before moving on to the overall final vote on the state budget for 2019.

The Chief Executive argued that this step towards early repayment of IMF debt would "strengthen Portugal's international credibility".

António Costa made it clear that the government's budget proposal. Aims to build a future, "first and foremost, improving sustainability, continuing the trend towards reducing public debt. Reducing costs and improving the financial stability of social security."

Regarding the budget proposal. The Prime Minister expressed his conviction that by promoting employment and wage increases. Improving contribution revenues also diversifies funding sources".

Tax relief

António Costa also indicates that Portuguese families will feel an increase in purchasing power from next year onwards. An increase in purchasing power per IRS relief. But household incomes will also benefit from a reduction in transport and energy costs.

"The Portuguese wallet will be further eased when it comes to the cost of public transport. Covering the entire country. The Program to support the reduction of public transport fares will incorporate measures including lowering the price of social packages. This budget will improve the lives of all Portuguese, whether they are more or less well-off," he recommended.

Education

António Costa made particular reference to education. Pointing out that families " will benefit from the extension of free textbooks to all pupils 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

According to the Prime Minister. Next year, the national health service will benefit from a budget increase of around 500 million euros. This will enable the creation of around 113 health centers. As well as the construction of five new hospitals.

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