The state financing planned for 2023 will be less indebted, among other things because the Ministry of Finance, led by Fernando Medina, has recently made an adjustment to the financing program, reducing the use of debt (i.e. loans that were foreseen in the scope of the PRR – Recovery and Resilience Plan).
With this calibration, reflected in the new financing program of the Portuguese Republic for 2023, approved by Minister Fernando Medina, on January 3, 2023, the Portuguese State reduces the debt target (in the part that comes from the European Union, the PRR) more than 500 million euros. In addition, there is also a very substantial reduction in the amount to be withdrawn from the markets during this year (via OT – Treasury Bonds).
An official source from the Ministry of Finance confirmed to Dinheiro Vivo (DV) that “less money is currently expected to be received from the loan component of the PRR”.
But to compensate for this reduction in PRR resources (from 835 million euros, the amount provided for in the national budget, to 300 million euros, now), “more resources will come from the subsidy component”. More non-refundable funds, actually.
That is, the Treasury (the agency that manages the public debt, IGCP) does not include the previously mentioned debt of 500 million euros “since they are not loans to be repaid”, Finance adds.
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Source: DN
