Prime Minister António Costa assured this Friday that the government has gone to great lengths with what the European Commission has allowed in helping companies facing a sharp rise in energy costs.
“Is it enough? Certainly not. It is the legal limit set by the European Commission and therefore the limitation was not financial, not political. It is the legal limitation in effect across Europe for state aid measures “said António Costa, in front of an audience of about 500 business people, at the “Millennium Talks” conference in Ílhavo, in the Aveiro district.
Measures to support employment, training, export and bolster financing targeting businesses impacted by rising energy costs were presented by the finance minister on Thursday.
In Ílhavo, António Costa explained that the financing limit for companies has increased from 400 to 500 thousand euros, and can reach two billion euros, in exceptional situations of “very significant” value growth, or five billion, in situations “exceptional” circumstances that some industrial sectors face.
The official also stressed the impact of other measures already in place, namely those that have limited the rise in the price of diesel and petrol and which, according to Costa, allow the Portuguese to pay less 14 euros and 16 euros , in a deposit of 50 liters of diesel and petrol respectively, than they would pay if this measure were not in place.
Another measure mentioned by the Prime Minister was the Iberian Mechanism, which was created to prevent pollution of the electricity price by the rise in gas prices, and which, according to António Costa, has resulted in an average saving of 16% in the past few months.
António Costa also mentioned that the inflation cycle will be higher than the initial predictions of international organizations, stating that it is necessary to go to great lengths in supporting businesses and households to respond to this situation, but without deviating from the structural objectives they have in mind: growth, income growth and reduction of public debt.
António Costa also said that the country will continue to converge with the European Union and that it will be the country of the European Union with the strongest growth.
“The covid pandemic has been very disturbing, but this year it is very clear that not only will we converge, but in fact, according to the European Commission’s forecasts, we will be the country in the entire Union with the strongest growth”he said.
At the end of the morning, at the end of a visit to the company Margrés, in Ílhavo, the Prime Minister expressed his solidarity with all industrial companies, especially in the ceramic sector, which are experiencing a “very strong” impact of the “cruel ” ” increase in energy costs. due to the war in Ukraine.
“We know it’s a very difficult situation for companies, for those who work in companies, and where we have to make a concerted effort to keep the business, keep the economy going, keep finding customers who buy the products and the ability to produce”he said.
Source: DN
