The new Portuguese Economy Support Program
On March 12, the Government presented new measures to support the Economy and Employment in the scope of the recent deconfination plan. In addition to these sectors, other sectors are covered, and more time for companies with the extension and reinforcement of measures over time. This support can again promote progressive opening, based on greater liquidity, extension of the APOIAR program, maintenance of jobs and fiscal and contributory relief.
This new wave of government aid hopes to reinforce a gradual resumption of the various economic activities, with measures in the range of more than 7,000 M €, where at least 1,160 M € are part of a lost fund. The State made available about 300 M € to support the Economy and Employment in new lines of credit, which includes medium and large companies with a turnover drop of over 25%. As for the existing credit lines, there is an extension, for 9 months, of the grace periods. Support can be cumulative, and with more reinforced and comprehensive measures.
One of the novelties is the return to the simplified layoff regime, extended to managing partners, which now, in addition to companies closed by legal order, now includes companies with order cancellations and interruption of supply chains, because others are behind closed doors. . For employers adhering to the layoff in the first quarter of 2021, there is a job support of two national minimum wages (SMN) for applications until May, and an SMN for applications between June and August. In the simplified support for micro-enterprises, employers covered in the 1st quarter of 2021 are considered to remain in a situation of business crisis in June and who have not benefited from layoff or Resumption Support.
As new measures in the Support for Progressive Recovery program, they include additional contributory support for the Culture and Tourism sector, and will be extended until September 2021.
For more information: https://www.optimistic.pt/l/o-novo-programa-de-apoio-a-economia-portuguesa/#