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Ponta Delgada ,  September 30, 2019

2020 Plan and Budget to increase public investment and fulfil commitments made by the Regional Government

The Vice-President of the Government assured today that the proposed Investment and Budget Plan for 2020 envisages “significant growth in public investment,” while ensuring the fulfilment of the commitments made by the Regional Government to the Azorean population.
 
According to Sérgio Ávila, the documents provide for "an overall investment growth of 50 million Euros and a growth in direct investment of more than 43 million Euros.”
 
“This significant increase in public investment is possible because, next year, we expect to reach a further 52 million Euros in revenue, which will be channelled to increase public investment and to fulfil the commitments made," stated Sérgio Ávila. The government official spoke at the end of the plenary session of the Economic and Social Council of the Azores also attended by the President of the Government, Vasco Cordeiro.
 
According to Sérgio Ávila, it will be possible to reconcile the public investment growth with the implementation of commitments such as “increasing the disposable income of families through the progressions in teaching and public administration careers as well as the renewal of public administration."
 
Moreover, the government official stressed other aspects he considered “structuring," namely the “very significant savings in the intermediate consumption of the public administration." This is essentially due to the fact that it was “decided to transfer the funding of Saudaçor and regional hospitals to the Region," thus resulting in "savings of 8.6 million Euros in interest and financial charges."
 
"The combined effect of this reduction in financial charges and lower operating costs of the regional administration has enabled us to increase public investment, while improving household disposable income," said the Vice-President of the Government. In this context, he also added that adding that transfers to hospitals and health facilities will grow from 268 million Euros in 2018 to 296 million Euros in 2020.
 
As for priorities, the government official highlighted the reinforcement of transport policies, with special emphasis on the capitalisation of SATA, the increased investment and financing of the Regional Health Service as well as increased funds for the development of tourism, employment and business development, innovation and fisheries.
 
“These are the priorities we have clearly set out in these documents," noted Sérgio Ávila. According to him, "it is important to mention that it will be possible to achieve a significant growth in public investment next year, i.e., 8.5% growth in direct investment, while accommodating the increase in household disposable income without affecting public investment through our management of public resources.”
 
When questioned by journalists about the fact that the 2020 Plan and Budget were considered electioneering, the Vice-President of the Government revealed that public direct investment increased 14% in 2018, i.e., about 52 million Euros, pointing out that the 2020 Plan is in line with what we have already done in previous years."
 
According to Sérgio Ávila, the documents presented today are also the result of “the work done by the Azoreans, their capabilities and their efforts to undertake this economic recovery, which is reflected in the Region's own revenue and its growth economic."
 
The 2020 Plan and Budget provides for an increase in public investment of about 43.8 million Euros, representing an increase of 8.5%; the overall amount stands amounts to 815.4 million Euros, of which 557.7 correspond to direct investments.


GaCS/VPGR
 
 
 
 
 
   
 

Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

 
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