Portuguese state budget 2022 in 10 points

&NewLine;Portugal&rsquo&semi;s economy should return to pre-pandemic wealth in 2022&comma; with an expansion of 5&comma;5 &percnt; helping to reduce the budget deficit to 3&comma;2 &percnt; of GDP and the public debt ratio to 122&comma;8 &percnt;&period;&NewLine;&NewLine;&NewLine;&NewLine;<h2 class="wp-block-heading">Portuguese state budget 2022 in 10 points</h2>&NewLine;&NewLine;&NewLine;&NewLine;In the proposed Portuguese State Budget 2022 &lpar;OE2022&rpar;&comma; presented to the Assembly of the Republic on Monday&comma; the government also forecasts that the&rsquo&semi;economy will grow by 4&comma;8 &percnt; this year an upward revision of the 4 &percnt; forecast in the stability program published in April&period;&NewLine;&NewLine;&NewLine;&NewLine;The Minister of Finance, João Leão, stated that "this development is largely due to the significant acceleration in investment compared to the previous year. <a href="https&colon;//vivreauportugalconsulting&period;com/budget-2021-au-portugal/" data-type="post" data-id="7619">2021</a> as well as to exports&period;&NewLine;&NewLine;&NewLine;&NewLine;According to the budget proposal&comma; the public deficit should fall to 4&comma;3 &percnt; of GDP in 2021&comma; before declining to 3&comma;2 &percnt; next year&comma; a projection that remains unchanged from the stability program&period;&NewLine;&NewLine;&NewLine;&NewLine;The improvement is "the result of the gradual recovery in economic activity&comma; the impetus of reforms and investments to be implemented under the RRP&comma; income support measures for the middle class&comma; families and young people&comma; and reducing the costs associated with the emergency measures that had to be implemented at the height of the pandemic crisis to support&&num;8217&semi;employment and income"&comma; reads the budget proposal&period;&NewLine;&NewLine;&NewLine;&NewLine;The public debt ratio will&rsquo&semi;improve&nbsp&semi;<a href="https&colon;//www&period;noticiasaominuto&period;com/economia/1849434/divida-publica-desce-para-126-9-do-pib-este-ano-e-122-8-no-proximo">also in 2021</a>&comma; representing 126&comma;9 &percnt; of GDP after reaching a record 133&comma;7 &percnt; in 2020&period;&NewLine;&NewLine;&NewLine;&NewLine;The recovery from the recession resulting from the pandemic is also expected to continue in the labor market&comma; with the government forecasting a drop in the unemployment rate to 6&comma;5 &percnt; in 2022&comma; the lowest figure since 2003&comma; compared to 6&comma;8 &percnt; estimated for this year&period;&NewLine;&NewLine;&NewLine;&NewLine;In the area of taxation, the government wants to create two new levels of the IRS&comma; deploying the 3rd and 6th levels&comma; this tax having nine levels&period;&NewLine;&NewLine;&NewLine;&NewLine;The government explained that it would implement "an ambitious program to improve household incomes through an IRS program that integrates various measures aimed at the middle class&comma; families with children and young people&comma; and a significant increase in family allowances"&period;&NewLine;&NewLine;&NewLine;&NewLine;Together, this program has an impact of 375 million&semi;euros&comma; of which around 275 million already in 2022&period;&NewLine;&NewLine;&NewLine;&NewLine;To stimulate private investment, the executive intends to launch the &lpar;IFR&rpar; recovery tax incentive in the first half of 2022&comma; allowing companies to deduct the amount of investments they make up to five million&semi;euros&period from the IRC collection;&NewLine;&NewLine;&NewLine;&NewLine;The Portuguese state budget for 2022 is due to be debated and voted on by the end of October&period; it will then have to be validated by the President of the Republic, and finally by the EU&period; &NewLine;

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