Portugal spends 1.68 bln euros to contain inflation: PM

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LISBON, July 9 (Xinhua) — Portuguese Prime Minister Antonio Costa introduced on Saturday that the federal government had spent 1.682 billion euros (1.713 billion U.S. {dollars}) this 12 months on measures to contain inflation.

According to him, the cash was used for “fiscal measures to management the rise in costs and assist to contain manufacturing prices,” in addition to measures to assist “essentially the most weak households and essentially the most energy-dependent financial actions.”

Speaking on the Socialist Party nationwide assembly, within the metropolis of Aveiro, Portuguese north coast, the pinnacle of presidency justified that it was vital to dedicate this quantity as a result of the inflation grew to ranges “by no means skilled on this technology.”

The fiscal measures adopted by the federal government for the power sector diminished the tax burden on gas by 18 proportion factors, he stated.

“If these measures had not been adopted, in a tank of fifty liters of diesel, every Portuguese can be paying 14 euros greater than what they’re paying and, in a tank of fifty liters of gasoline, every Portuguese can be paying 16 extra euros,” he stated.

He additionally stated that 120 million euros have been spent simply to maintain down the costs of fundamental meals merchandise for multiple million most weak Portuguese households.

“As with the pandemic, we now have right here a problem on a world scale that we now have to find a way to face and handle,” stated the prime minister. (1 euro = 1.02 U.S. {dollars})



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