Centeno admits amending budget in 2020. “We are not in normal times”

The Finance Minister Mário Centeno admitted Wednesday that he may have to present an amending budget in view of the evolution of the economic impact of the new coronavirus in Portugal.

At a press conference where he explained the Government’s stimulus measures, Centeno stated that when the 2020 State Budget comes into force, initially the “adaptation mechanisms will be used throughout the year.” At the moment, the document is being evaluated by the President of the Portuguese Republic to be promulgated (or vetoed).

“Once these gaps have been filled, it is clear that there is no question of not adapting the state budget to these circumstances, namely through an amending budget,” the Finance Minister admitted, pointing out that “we are not in normal times.”

“We are not at a time when we can call into question the implementation of these measures and others that will be necessary,” said Centeno, also admitting that the measures announced today can be extended beyond the second quarter. At the moment, the priority is not the sustainability of public accounts, assured the Finance Minister.

Centeno explained that the measures announced today are presented mainly for the second quarter and that “they are adapted precisely to this development perspective of the pandemic in the coming months”. This is a context of “enormous uncertainty” and the Government is willing to consider extensions or revisions of this strategy as it follows the development of the situation. This is being done “in the national context but also in the European context,” he assured.