Government sends State Budget to Parliament this Wednesday

Nearly five months after being rejected and with early elections in the middle, the new proposed State Budget for 2022 (OE2022) will be sent to the Parliament this Wednesday, according to an official source from the Finance Ministry.

The State Budget for 2022 was rejected on October 28 and the political result was the Parliament’s dissolution and early elections. Three months after the situation taking place, the Portuguese gave an absolute majority to the Socialist Party (PS), whose process of forming a government was postponed due to the repetition of the elections in the European constituency. The new Executive took office at the end of March and, about two weeks later, presented the new draft Budget.

With this timeframe, the country should have a functioning State Budget on July 1. The parliamentary process takes at least a month and a half and it is unlikely that the entire process, including the final drafting by the Parliament services and the promulgation by the President of Portugal, will be concluded in time to come into force on June 1.