Portugal 2020 allocated €26 billion in EU funds

Paul Rees 10 February 2019

Portugal has received €7.5 billion from the European Union since the start of the Portugal 2020 programme in 2015, second only to Poland, according to the last European Union Funds Information Bulletin, carrying information to the end of 2018.

In total, the European Commission has transferred a total of €101.8 billion to the 28 Member States, 7.3% of which has been sent to Portugal.

By the end of 2018, applications had been submitted under the Portugal 2020 investment programme for €58.4 billion in aid, 50% of which was for competitiveness and internationalisation projects.

Projects to date have cost €8.4 billion, an implementation rate of 33%.

With an overall allocation of about €26 billion, the Portugal 2020 programme is a partnership agreement between Portugal and the European Commission, "which establishes priorities for the economic, social and territorial development policy of Portugal between 2014 and 2020."

Comments

0 #11 Darcy 2019-02-14 16:32

Quoting nogin the nog:

hmm
Portugal has in effect just borrowed another 26 billion Euros. Which will need paying back at some point. ..

______________________________________________________
The title of this report suggests that Portugal has been allocated €26 billion, NOT a loan.
So PLEASE stop racing ahead in an attempt to Sensationalise everything to do with Banking in Portugal.

+1 #10 mj1 2019-02-12 10:06

maria ..you raise some interesting points, but do not forget that before tourism the Algarve was as the Portuguese used to say "africa without the lions" and for example where it took 5 years to get a telephone, so if the govt of Portugal wants to get to take its population back to those days its fine ..I wonder whether such a move would be feasible

-1 #9 mj1 2019-02-12 10:00

mr ed ..please give maria a section, nice to have some crackle n controversy in the news

-1 #8 nogin the nog 2019-02-11 21:02

hmm
Portugal has in effect just borrowed another 26 billion Euros. Which will need paying back at some point. .. :-*

+2 #7 RCK 2019-02-11 12:15

Quoting maria Valentina Umer:

I absolutely diasagree with James Mayor: Portugal has to use the EU funds for infrastructural development in technology and higher-education. Tourism has been Portugal´s dope for short-term keeping-the-economy. Tourism is a fleeing branch. Changes in politics (like Brexit) send the tourists away like a flock of scared birds. Portugal has, unfortunately, never used EU funds wisely. THEIR MISTAKE!
I find tourism in the Algarve a mishap! Tourists there cause more damage to the regional economy than they spend. And the worst is the real estate British mafia that comes with them! Glad they´ll soon be leaving in Brexit´s aftermath. Blackpool or Brighton, perhaps? Or London to the sheikhs? The sharks will go on to feed on sweeter waters, always. Portugal must DO WITHOUT DEPENDENCY ON TOURISM. As a trained international Economist, I abhorr exploitation. And look foward to the end of it in the Algarve. If this comment isn´t published, it´s because it goes against the interests of this tabloid, whose constituency is exactly what I attack. But, at least, its Editor might notice!

On the subject of Anti British comments which I have recently raised, I rest my case. “Real Estate British Mafia”? That's A new one. Just blame us for everything I should. Hope it makes you feel better Maria

+3 #6 mj1 2019-02-11 10:24

aah maria, I agree with the comment about tourism, it knows no limits as to what will be destroyed to build another hotel, another apartment block another golf course. But in your comment about the british, other nations have been busy also here with tourism, including the portuguese

+5 #5 AL 2019-02-11 09:54

Maria Umer you should have ended your comment in the first paragraph.
I agree with you that Portugal should not just rely on tourism and use the EU money to develop infrastructure and other industries. The holiday industry is worth many billions and the Algarve is a victim of it's own success. The beauty and laid back image is slowly being transformed into a money making machine to feed this industry, with the locals getting a few crumbs to make a living.

+6 #4 Jack Reacher 2019-02-11 08:29

Actually some of MVU's assertions are entirely correct..in terms of tourism and the impact on the Algarve. What evidence do you need. Tourism has quite simply destroyed the Algarve. Over development, burdened leaking sewage, golf course leaching and sucking up water, destroyed beaches, tourist waste, car hire, zero sustainable traffic modes, flights with zero carbon offset...the list goes on and on and on. As for EU funding, really.

+2 #3 Maria F 2019-02-10 22:32

Maria Valentina Umer does seem to have a problem with British. For me, they were here decades ago and are polite, unlike her, and contriburte plenty in their various ways especially to charitys. Perhaps she should be calm and maybe people would read her foolish rantings then

+6 #2 Ed 2019-02-10 22:04

Quoting maria Valentina Umer:

I absolutely diasagree with James Mayor: Portugal has to use the EU funds for infrastructural development in technology and higher-education. Tourism has been Portugal´s dope for short-term keeping-the-economy. Tourism is a fleeing branch. Changes in politics (like Brexit) send the tourists away like a flock of scared birds. Portugal has, unfortunately, never used EU funds wisely. THEIR MISTAKE!
I find tourism in the Algarve a mishap! Tourists there cause more damage to the regional economy than they spend. And the worst is the real estate British mafia that comes with them! Glad they´ll soon be leaving in Brexit´s aftermath. Blackpool or Brighton, perhaps? Or London to the sheikhs? The sharks will go on to feed on sweeter waters, always. Portugal must DO WITHOUT DEPENDENCY ON TOURISM. As a trained international Economist, I abhorr exploitation. And look foward to the end of it in the Algarve. If this comment isn´t published, it´s because it goes against the interests of this tabloid, whose constituency is exactly what I attack. But, at least, its Editor might notice!

I have published this as an example of someone who can't make a simple point without resorting to bilious insult.

As you are a trained international economist, as opposed to an untrained one I suppose, perhaps you could give readers some facts and figures for your assertion that "Tourists there cause more damage to the regional economy than they spend."

Many thanks and do try and get some rest...

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