EUR 1550 million measures to support companies approved

EUR 1550 million measures to support companies approved

The Council of Ministers approved new Measures to Support the Economy in the global amount of 1550 million euros, 750 million of which to support micro and small companies most affected by the pandemic.

The creation of new lines of credit with public guarantee of 800 million, including 160 million non-repayable, is also expected, said the Minister of State, Economy and Digital Transition, Pedro Siza Vieira, in his presentation in Lisbon. 

One of the new credit lines is aimed at companies that provide support for cultural, festive, corporate, sporting events, seminars, shows, among others. "We are thinking of companies that set up stands at exhibitions and fairs, companies that set up light, sound and audiovisual equipment", detailed the minister, "who currently have very significant activity breaks". 

A credit line will be opened for these companies, in which 20% of the value of the credit will be converted into a non-repayable subsidy, "if by the end of 2021 jobs will be maintained". 

In addition to this line, another will be created to “Industrial companies with a high turnover from exports”. The credit line will have up to 750 million euros available, "in which 20% of the credit value can also be converted into a non-repayable subsidy". 

The amount of credit per company will be determined according to the number of jobs. Both will be available "soon", guaranteed Pedro Siza Vieira. 



Within the scope of the new measures is the creation of the Programa “Which consists of non-repayable subsidies and micro and small companies” which had “revenue losses of more than 25% in the first 9 months of 2020, who had positive equity at the end of 2019, and whose situation was regularized with the tax authorities, social security and the banking system '.

The it is for companies that “operate in sectors that have had their closure decreed and continue to suffer from measures to contain the pandemic, such as trade and services open to the public, cultural, tourist and accommodation activities, and restaurants, and corresponds to a percentage of turnover, calculated on the fixed non-wage costs of companies », he said.

The Program has a total amount of 750 million euros, “with a limit of 7500 euros for micro-enterprises and 40 thousand euros for small companies. The companies that benefit from it, can not make redundancies for economic reasons during the period of support or distribute funds to the partners ». 

The costs of the new measures will be borne by European Union funds. 

Since the beginning of the pandemic, the total injection of liquidity in companies amounts to 20 billion euros, revealed the Minister of Economy. The value includes measures such as lay off simplified, the various lines of credit opened, support for the progressive recovery and bank default.

The presentation session was also attended by Ministers of Planning, Nelson de Souza, Labor, Solidarity and Social Security, Ana Mendes Godinho, and Territorial Cohesion, Ana Abrunhosa, also responsible for the design of the new measures.


Source: Portuguese Republic


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