According to the Portuguese prime minister, the money was used for fiscal measures aimed at combating price increases and limiting production costs, as well as supporting “vulnerable households and the most energy-dependent economic activities.”
Portuguese Prime Minister Antonio Costa said on Saturday that his government has spent 1.68 billion euros this year on measures to curb inflation.
According to the Portuguese prime minister, the money was used for fiscal measures aimed at combating price increases and limiting production costs, as well as supporting “vulnerable households and the most energy-dependent economic activities.”
Speaking at a Socialist Party conference in the city of Aveiro, on Portugal’s north coast, Prime Minister Antonio Costa stressed that it was necessary to spend this amount because inflation had risen to levels “unprecedented for this generation”.
Fiscal measures taken by the Portuguese government for the energy sector reduced the tax burden on fuel by 18 percentage points, he said. “If these measures had not been adopted, for 50 liters of diesel a Portuguese person would pay 14 euros more, while for 50 liters of gasoline he would pay 16 euros more,” he explained indicatively.
It also said that €120 million was spent just to contain the prices of basic food items, with the aim of providing relief to more than one million vulnerable households.
“As with the pandemic, we are facing a global challenge that we must be able to manage,” said the Portuguese prime minister.
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