The finance minister defended Friday that the government’s anti-inflation measures target the most deprived, the middle class and businesses, ensuring the welfare state and the state’s future responsiveness.
This point of view was expressed by Fernando Medina at the opening of the parliamentary debate on the measures taken by the executive against inflation, in a speech in which he again argued for the need to adopt a “prudent” economic and financial line. and Portugal’s target to quickly return to Covid-19 pre-pandemic debt levels.
In the presence of the delegates, the holder of the finance portfolio considered that the measures taken by the government are characterized by their effectiveness “by returning cash support for each Portuguese to use as they see fit, trusting the choices of families and the defense of each is optimized against inflation” – a critical indirect reference to the PSD’s program for granting food stamps.
Fernando Medina also said the government is responding with “price controls” in sectors such as housing and public transport, as well as “tax cuts, particularly in fuel and energy”.
“This is a comprehensive plan, the most comprehensive and ambitious ever. Faced with an inflation crisis that affects everyone, the state supports everyone. The program addresses those who need it most and do not forget the middle classes. social benefits, for the unemployed, for retirees and for employees,” he insisted.
The Finance Minister also spoke about the passage of the measures approved in the Council of Ministers last Thursday.
“Businesses benefit from the support of household purchasing power, in addition to income and fuel support who are also beneficiaries and from the specific measures that strengthened them even on Thursday,” emphasizes Fernando Medina.
Then the Treasury Secretary highlighted the other aspect of the executive branch’s philosophy of mitigating the effects of inflation: prudence in view of the current international situation.
“The program does not compromise our ability to respond in the most adverse circumstances, it secures future margins of action and protects the welfare state”he said, before noting that gross domestic product (GDP) will increase by more than 6% this year and that Portugal will be above its pre-Covid-19 activity level.”
On this point, Fernando Medina reiterated that, despite the mobilized support of more than four billion euros in 2022, the deficit falls to 1.9 and the debt falls below 120%.
“Soon we will return to pre-pandemic debt levels. This is the best way to protect families and businesses. This is how we can mitigate the effects of rate hikes and be confident that we will maintain a response margin with proper accounting and credibility going forward,” he added.
Source: DN
