Public investment will reach 815.7 million Euros in the Azores in the next year, from which 516.8 million Euros will be directly funded by the Region Budget.
The information was provided by the Vice-President of the Government who, accompanied by Secretary of the Presidency, presided over the delivery of the proposals for the Regional Annual Plan and Budget for 2010 to the President of the Parliament.
For Sérgio Ávila, 2010 will be a year marked by financial and budget stability in the Region and by the maintenance of a significant level of investment.
According to Vice-President, next year there will be “some reduction in tax revenue, particularly based on companies’ profit”, which is why the Government may not increase public investment. However, he stressed that we "will manage to achieve stability by making a great effort in the maintenance of public investment.”
Furthermore, Sérgio Ávila also said that the two documents to be discussed at the Parliament later this month reflect “stability in the context of tax revenue and of the Region’s revenues.”
With the main priority focused on the allocation of public expenditure, Sérgio Ávila pointed out the increasing competitiveness of the economy, the reinforcement of the Region’ infrastructures in the region, particularly in the qualification of air and maritime transport and of their accessibilities, and the promotion of employment and professional training.
We will also award a priority status to health, education, agriculture, without forgetting the islands’ environmental qualification and the reinforcement of solidarity and social cohesion policies, stated Sérgio Ávila.
For example, the Vice-President mentioned that in the context of territorial cohesion, the Government will reinforce in 20 million Euros the funds for the so-called “islands of cohesion.”
Moreover, Sérgio Ávila considered that the proposals for the Regional Annual Plan and Budget for next year, despite an unfavourable “international situation,” they reflect a “stability policy in public finances,” embodied in the maintenance of the investment levels as well as of and public expenditure.