Government aproves measures of 1550 million euros for economy support

06.11.2020

The Council of Ministers approved three measures to support the economy totalling EUR 1550 million, of which EUR 750 million to support micro and small enterprises, and EUR 800 million for publicly guaranteed credit lines, including EUR 160 million in the form of non-repayable grants. The measures were presented by Pedro Siza Vieira, Minister of State for the Economy and the Digital Transition, in Lisbon.
 
Progressive Resumption
The first is the revision of the phase-in support scheme to support the payment of salaries in companies that have had turnover losses of more than 25%. The support is "increasing, depending on whether the drop in turnover is higher, corresponding to one minimum wage per job paid at one time or two minimum wages per job that had been lay-off by the end of the year". Before the review, "companies that had benefited from this support and wanted to join the phase-in support scheme had to return the support received". 
 
"The Council of Ministers changed this regime, allowing companies that had benefited from this support to move to the phased recovery support scheme without having to return the incentive," said the Minister of State for the Economy and the Digital Transition, Pedro Siza Vieira, who added that "in the discussion of the State Budget, the Government will propose to the Assembly the extension, at least during the first half of the phased recovery support scheme. 
 
Apoiar.pt
The second decision was to create the Apoiar.pt programme, "which consists of non-repayable grants and micro and small enterprises" that have had "turnover losses of more than 25% in the first 9 months of 2020, had positive equity capital at the end of 2019, and have the situation regularised with the tax, social security and banking authorities".
 
Apoiar.pt is for companies operating in sectors that have had their closure decreed and continue to suffer from the pandemic's containment measures, such as trade and services open to the public, cultural, tourism and accommodation activities, and restaurants, and corresponds to a percentage of turnover calculated on companies' fixed non-wage costs.
 
The minister said that the programme had a total of 750 million euros, "with a limit of 7500 euros for micro businesses and 40,000 euros for small businesses. Companies that benefit from it cannot make redundancies for economic reasons during the period of support or distribute funds to members". Siza Vieira also mentioned the "creation of a credit line of 50 million for events companies, which have very significant breaks in activity".
 
Credit line
The third measure is aimed at industrial enterprises with a high turnover from exports, which "will have a new credit line of up to 750 million, where 20% of the value of the credit can be converted into a non-repayable grant", which "strengthens their equity capital", the support being determined according to the number of jobs".
 
Source: Portal do Governo