The Budget of the Autonomous Region of the Azores has increased to 1073 million euro, an additional 63,4 million euro in relation to the 2008 budget. 

This information was provided on Monday at the city of Horta by the Vice-President of the Government, after he handed to the President of the Azorean Parliament the Medium-Term Strategic proposals (2009-2012) and the Investment Plan for 2009. 

According to Sérgio Ávila, the documents that were handed to the Regional Legislative Assembly mean that there will be an increase in public investment, an extra 70 million euro in relation to the previous year, a decrease in taxes and an increase in the buying power of public servants. 

The Vice-President said that "in 2009 we are going to witness an increase of the transfer of funds from Lisbon (i.e the Central Government)  to the Regional Health Service and there will not be an increase in the public regional debt  for the seventh consecutive year." 

In the view of the Vice-President of the Regional Government, this increase in public investment in 2009, without resorting to an increase in taxes and public debt was achieved thanks to the rise of EU funding and to the transfer of funds from the Central Government under the provisions of the Law of Regional Finances  and to the reduction of the relative weight of operational expenses. 

He added that public investment in the Region, during the present year, will reach 761,4 million euro, of which 483,8 million will be directly provided by the Regional Budget. 

To promote the sustainable development of the economy, improve the qualifications and skills of Azoreans, manage the territory efficiently and reinforce social cohesion and solidarity are the other four great objectives of the Medium-Term Strategic Orientations and of the Investment Plan. 

Sérgio Ávila said that the priority investment areas are employment, vocational training, agricultural and forestry competitiveness, tourism development, fomenting entrepreneurial competitiveness, science, IT, housing and development of air transport.  

He added that the documents that were produced by the Regional Government and handed to the President of the Regional Parliament are an example of financial rigour, that they translate the financial solidity of the Region and are a demonstration of the contention of expenditure in the Regional Public Administration.