Prime Minister deems EU deal ‘a sign of confidence for Europe and Portugal’

Portugal’s Prime Minister, António Costa, has today said that the agreement reached at the European Council in Brussels, gives "a sign of confidence" to Europe and Portugal for the covid-19 post-pandemic economic recovery.

in News · 21 Jul 2020, 09:05 · 6 Comments

The deal was reached on the fifth day of one of the longest European summits in history. The European Council today approved an agreement to revive the post-crisis EU economy of covid-19, to a total package of 1.82 billion euros.

At this historic meeting, a Multiannual Financial Framework for 2021-2027 of 1.074 billion euros and a Recovery Fund of 750 billion were approved, with just over half in grants.

More in News

Algarve updates funds to combat rural fires

In News, Portugal, Algarve - 13 May 2025, 13:02

Blackout seen from space

In News, Portugal - 13 May 2025, 12:02

Ryanair bomb threat “false alarm”

In News, Portugal - 13 May 2025, 11:33

Comments

And the EU will give funds to Portugal, who in turn will give it to the banks. There is where it will stop. These funds rarely reach the companies that need them.

By Charles from Lisbon on 21 Jul 2020, 09:43

Transparency is everything, and an independent watchdog is needed to ensure the funds are allocated to businesses and social sectors where they make a real difference. Mr Costa, show us true leadership and integrity!

By Annie from Algarve on 21 Jul 2020, 13:46

The commitment on the part of this government is good. More still needs to be done to ensure that these funds are given to companies, and start-ups to create jobs, ensure circulation of of funds, improve household incomes and salvage the economic effects of the pandemic.
Kudos to the EU and the government of Portugal.

By Vincent from Lisbon on 21 Jul 2020, 18:59

We all have to be together in this pandemic time. Thanks to all europian nations to be staying together.

By Harmanjit Singh from Porto on 21 Jul 2020, 20:45

I have my doubts if Portugal will proceed with the long discussed and requested requested reforments. The only way to stop all these spendings on this overcostly bureaucratic system. I see no news about this.

By Herb from Alentejo on 22 Jul 2020, 23:40

Looking fruitful, very good efforts. Love you Portugal.

By H.B.Singh from Lisbon on 23 Jul 2020, 12:00