Translation: Telmo Ferreira (https://tftraducoes.com/en/)
The Portuguese Business Confederation (CIP) believes that the 2024 State Budget lacks measures to stimulate investment, but emphasized the positive aspects of increasing family income through tax relief and reducing public debt.
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DN/Lusa
October 17th, 2023 — 11:50
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The chairman of the Portuguese Business Confederation (CIP) considered, this Tuesday, that the State Budget for 2024 (SB2024) is not bold or entrepreneurial, thus lacking in measures in order to stimulate investment, for which economy runs the risk of becoming anemic.
“Most of the measures are not new, they are mainly permanent. It’s a budget that doesn’t dare, that doesn’t undertake. […] The economy runs the risk of becoming anemic if it doesn’t dare to undertake,” referred the PBC president, Armindo Monteiro, at a press conference in Lisbon, on Tuesday, about the Social Pact, the State Budget and the economic outlook for 2024.
For the business confederation, one of the document’s shortcomings is the lack of measures in order to stimulate investment, but it emphasized the positive aspects of increasing family income, through tax relief and reducing public debt.
“We’re well aware that we have to make choices considering the budget and that’s why it’s always about a balance between possible impacts, but our concern is that if these impacts aren’t anticipated, they could bring dramatic effects on both families and companies,” Armindo Monteiro pointed out.
The government submitted the 2024 State Budget proposal (SB2024) last week to the Portuguese Parliament, which will be discussed and voted on in general on October 30th and 31st, with the final overall vote scheduled for November 29th.