{"id":6670,"date":"2019-12-18T12:00:00","date_gmt":"2019-12-18T12:00:00","guid":{"rendered":"https:\/\/vivreauportugalconsulting.com\/?p=6670"},"modified":"2019-12-18T09:32:38","modified_gmt":"2019-12-18T09:32:38","slug":"portugal-presents-its-budgetary-project-2020","status":"publish","type":"post","link":"https:\/\/vivreauportugalconsulting.com\/en\/portugal-presente-son-projet-budgetaire-2020\/","title":{"rendered":"PORTUGAL TARGETS RECORD BUDGET SURPLUS IN 2020"},"content":{"rendered":"

Portugal presents its 2020 budget project<\/h2>\n\n\n\n

Portugal presents its 2020 budget project, it set Tuesday to reach a budget surplus<\/strong> 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. <\/p>\n\n\n\n

In return, the government has committed to reducing small business tax<\/span><\/strong><\/a>.<\/p>\n\n\n\n

2020 Budget Proposal<\/h3>\n\n\n\n

In his project<\/a> 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.<\/p>\n\n\n\n

This will give an extra push to reduce the country's debt, one of the largest in the eurozone. Portugal's debt-to-GDP ratio is expected to fall to 116.2% in 2020 from 118.9% this year, according to the budget forecast.<\/p>\n\n\n\n\n\n

<\/div>\n\n\n\n

The minority government of Antonio Costa, which won a second term last October, hopes to achieve economic growth of 1.9% next year, identical to that of 2019.<\/p>\n\n\n\n

The government plans to ease the tax burden on the middle class by introducing new middle tax brackets and additional subsidies for large families.<\/p>\n\n\n\n

Small businesses are the big winners <\/h3>\n\n\n\n

SMEs with annual taxable profits of less than 25,000 euros<\/strong> will see their tax at drop to 17%<\/strong> against 21% currently<\/strong>.<\/p>\n\n\n\n

In return, taxes on tobacco, lotteries and high-sugar drinks will increase.<\/p>\n\n\n\n\n\n

The government plans to increase the average salary in the public service by 0.3% and 800 million euros will be injected to reduce the debt of the health sector.<\/p>\n\n\n\n

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. <\/p>","protected":false},"excerpt":{"rendered":"

Portugal set a target on Tuesday of achieving a budget surplus in 2020 for the first time in 45 years of democracy, thanks to solid economic growth.<\/p>","protected":false},"author":1,"featured_media":3213,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Le Portugal pr\u00e9sente son projet budg\u00e9taire 2020 et les petites entreprises sorte gagnantes","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3308,1,3306],"tags":[3356,67],"class_list":["post-6670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie-du-portugal","category-fiscalite-des-francais-au-portugal","category-politique-au-portugal","tag-entreprise","tag-fiscalite"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/vivreauportugalconsulting.com\/wp-content\/uploads\/2018\/10\/640_000_1a20a4.jpg?fit=640%2C426&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/posts\/6670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=6670"}],"version-history":[{"count":0,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/posts\/6670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/media\/3213"}],"wp:attachment":[{"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=6670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=6670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vivreauportugalconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=6670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}