The Regional Government of the Azores has succeeded in minimising the effects of the international crisis on the archipelago and, in the near future, it  will also succeed in dealing with its negative consequences.

This statement was made by the Vice-President of the Regional Government on Tuesday as he presented the Medium-Term Governmental Programme (2009-2012) and the Regional Investment and Budget Plan for 2009.

According to the Vice-President, Sérgio Ávila, the Regional Government has managed to "transmit an additional stimulus and maintain the confidence of Azorean companies and families" in this demanding situation, as is demonstrated by the "excellent adherence"  of companies  to the governmental credit lines and the "high amount of private investments already approved by the new system of incentives."

he said that in only 40 days, the credit lines established in the Azores have granted financial support in the order of 106 million euros to 559 regional companies.

He added that the Regional Government, faced with the difficulties of the international financial crisis, will not neglect the need to adopt  "all the innovative, courageous and ambitious measures" that are necessary to assure the sustainable economic growth of the Region.

The Vice-President said "what we can not do is to accept proposals that  "aim merely to reduce the capacity of the Region to support all Azorean families and companies in a manner that ends up benefiting those with higher incomes."

With regard to the Medium-Term Governmental Plan, the Vice-President explained that the global strategy that has been adopted will privilege sustainable economic growth, the reinforcement of social solidarity and cohesion, the efficient management of the territory and the qualification of public management and co-operation.

He said that the Regional Administration will undertake public investments in the order of 3268 million euros in the years 2009-2012.

The Budget for 2009 reaches the figure of 1368 million euros. If this sum is deducted from current accounts, it means that the total amount of funds made available will be 1079 million euros, an extra 63.4 million euros in relation to the 2008 budget.

He also highlighted the fact that these current expenses are inferior in 110.9 million euros to the current income, something which "makes it possible for this positive balance to contribute to the financing and reinforcement of investment."

Sérgio Ávila also said that the loan of 50 million euros that the Region was authorised to obtain will enable the reinforcement of policies that have been adopted with a view towards making the housing market and the qualification  and promotion of employment more dynamic.

The Vice-President reminded that the Azores have, since 2003, assured the "balance of the regional budget without resorting to indebtedness, thus maintaining the public regional debt essentially unaltered."