Councillor for housing resigns following delayed vote
The socialists have asked for a delay in the voting for the housing package. Despite BE and PCP's rejection of the delay, the voting for new regulations was postponed, making councillor Roseta leave.
PM presents investment plan for the country’s interior
The Prime Minister has announced that three Portuguese municipalities of the interior region of the country will be the beneficiaries of the "Roadmap of Investment in the interior".
Chinese and Americans spend the most on their holidays
In Portugal, the tourists which have more money to spend during their holidays in the country are the Chinese and the North-Americans, according to the secretary of state for Tourism.
Porto won’t follow Lisbon in restricting short-term rentals
Moreira said that an alternative solution would be proposed by Porto to avoid “killing the goose that laid the golden egg” of tourism.
Number of unemployed people drops by 17.1% in September
The Socialist government expects the country’s Gross Domestic Product (GDP) to grow by 2.2% next year, the unemployment rate to hit 6.3% and public debt to drop to 118.5% of GDP.
Centeno confident about budget deal between Rome and the EU
The head of the Eurogroup, Mário Centeno, said this Monday that the messages from the European Commission regarding Italy's 2019 budget were "very positive" and "constructive", according to Reuters.
Fitch approves Budget, highlighting “fiscal progress”
Fitch Ratings reported that some commitments in this year's budget are a reflection of the approach to elections, noting that the "fiscal tightening" has promoted a consolidation of public finances.
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Brussels has an ‘Erasmus’ programme for SME’s employees
While the worker is abroad, its salary and travel expenses are covered by the European Union programme MobiliseSME, funded by the EU-programme Employment and Social Innovation – PROGRESS.
Lisbon: Medina plans to increase number of taxes in 2019
Since having become the Mayor of Lisbon, Medina has almost doubled the number of taxes charged in the city. The municipality is planning to collect around €100m with the taxes next year.
Portuguese public debt gets to 124.8% of GDP in 2017
Portugal has the third highest government debt to GDP ratio in the EU, at 124.8%. 15 Member States have government debt ratios higher than 60% of GDP, with the highest being Greece, Italy and Portugal
Portugal has the second highest deficit in the Eurozone
The government deficit decreased to 1.0% both in the EA19 and the EU28 in 2017. Portugal presented the second largest deficit due to CGD's capitalization, and the third largest debt pile at EU level.
FT compares Italy’s economy to “Portugal three years ago”
Three years ago, Portugal had a fragile banking sector, and a high public debt, trying to overturn austerity. Now, it's Italy who is in "a collision course with the EU over budget deficit targets".
Foreigners bought 17 thousand houses in Portugal last year
Over a thousand of those houses cost more than half a million euros. Non-residents were responsible for 11.5% of the total of last year's real estate sales. French lead, followed by the Brits.
CTT hires US company specialized in postal service crises
Portuguese postal services, CTT, is considering an investment of €40m in the modernization of their company. A.T. Kearney Consulting is in charge of planning the optimizations.
Country to receive around 150 refugees from Egyptian camps
In November Portugal is due to receive around 150 refugees currently living in Egypt, which will be the first portion of a group of over 1,000 people expected to take up residence in Portugal by 2019.
PM calls for EU migration system ‘to avoid past fractures’
Portugal’s prime minister, António Costa, on Thursday called for the creation of a common system for migration in the European Union that can avoid a rerun of the "harmful effects" of past fractures.
Plastic bottles, bags and plates banned in state sector
The Portuguese Government decided to ban the use of plastic bottles, bags, and plates, as to force departments to find alternative materials. Paper and other consumable items should be reduced by 25%
Country’s poverty rate stands at 23.3%, above EU average
In 2017, 23.3% of the Portuguese population was at risk of social exclusion or poverty, while 18.3% of the people were at risk of monetary poverty (after social transfers), above the 16.9% EU average.
Foreign Affairs Minister is “working on Brexit agreement”
Foreign Affairs Minister stated last Monday that the country is working on ways to mitigate the effects of a most-feared 'no-deal' Brexit. Prime Minister, Costa, defends bilateral agreements.
Angolan GDP shrinks in Q2, a year-on-year fall of 7.4%
Angola's economy presented a year-on-year fall of 7.4% in GDP growth, which has been going down for three quarters in a row. The country's high exposure to the oil industry is promoting this fall.
Lone Star is ‘satisfied’ with investment in Novo Banco
One year after signing the deal with the BdP and the Resolution Fund, Lone Star is 'satisfied' with the business decision. The North-Americans paid €750m to get a 75% stake of the bank.
Lisbon Metro plans strike during the Web Summit event
The workers of the Lisbon Metro are planning a strike the morning of the 6th of November, the day the Web Summit starts.
Golden visa down 19% in September, 5% on year
Golden visa permits for major investors fell by 19% in September, in comparison to August, according to SEF. So far this year, almost €593m has come in under the programme.