Lisbon, Oct 11 (SocialNews.XYZ) The Portuguese government has proposed its 2023 budget to counter the "most adverse" scenarios of the global financial crisis.
The budget, which will be discussed in Parliament on October 26-27 with the final vote scheduled for November 25, aims to protect income, promote investment, ensure sound accounts, and reduce the budget deficit and public debt, reports Xinhua news agency.
Delivered by Finance Minister Fernando Medina, the proposal has five priorities:
The first is to reinforce income, as the government expects to add in 2023 around 3.73 billion euros in income, pensions, social benefits as well as youth and birth support with tax reduction.
The second is to mitigate price and interest rises, including limiting the increase in rents and freezing public transport prices.
Thirdly, the government plans to invest 2.1 billion euros to accelerate energy and climate transition.
The fourth involves investment and innovation to stimulate capitalization and tax relief.
The fifth priority is to strengthen fiscal credibility with an aim to reduce public debt to 110.8 per cent of GDP in 2023.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz