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Five billion in support for companies in the next community framework

Five billion in support for companies in the next community framework
ECO Economia Online · 24 Sep 2020
The next community support framework is expected to affect at least five billion euros for companies, revealed Planning Minister Nelson Souza.

"Feder, for example, will have a value of around 10 billion euros in the next community support framework, and I can say that close to 50% of that Feder value will be associated with a policy objective related to companies and business competitiveness", explained the minister who is in charge of conducting negotiations with Brussels on the new Community support framework - the Multiannual Financial Framework 21-27, which succeeds Portugal 2020.

"In the community support framework, a different priority will be set than the one in the Recovery and Resilience Plan and that should be read in addition", stresses Nelson Souza, thus responding to criticisms that the Recovery and Resilience Plan does not have enough money for companies.

Nelson Souza also explained that the Recovery and Resilience Plan, with 12.9 billion euros, "must be analyzed together, and integrated, with another instrument that is the Multiannual Financial Framework 21-27. That is the structural funds of the new community framework." But he warns: "This reading is not yet possible, because we have not yet disclosed its contours and its delimitation", stressed the minister.

"The one with the quickest execution deadlines will be financed by the Recovery Plan, which has to be executed in six years, and the one with the longest execution remains with the Multiannual Financial Framework, which will be executed in ten years", explained Nelson Souza.

Nelson Souza also explained the Executive's option to dedicate such a large portion of the Recovery Plan to public investment, adding that this investment will also help to reduce context costs and make life easier for companies: Public investment will "promote and dynamize the market for the private sector".