Europe

Portugal receives the first shot of EU bazooka

European day Have been celebrate By the arrival of Portugal The long-awaited first tranche of “Bazooka” of Recovery funds after a pandemic..

Total 1.6 billion euros Is coming to the country used in 17 investments It is highlighted by Portugal’s PRR (Resilience and Resilience Plan) and 21 reforms.

Among them are planned upgrades in the underprivileged areas of Lisbon and Porto, the purchase of 600,000 computers for schools, and investments in expanding the network of “joint laboratories”.

As the report explains PRR must be completed by 2026..The original plan was for Portugal to receive € 16.6 billion for multiple projects – Of which € 13.9 billion is subsidies (that is, non-repayable) and € 2.7 billion is loans.

Payments are made in stages and are subject to Portugal’s compliance with 341 predefined goals.

Today’s payment Granted € 555 million projectWhen 609 million euro loan..They fall into the following categories Resilience, green transition, digital transition When Social policy..

In Resilience categoryThe report is “Expansion of joint laboratory It is the center of economic and social value creation where companies, research centers and universities come together.There is also a total assigned to Blue Fund (Fund Azul) To support scientific activities and investigations related to the protection and surveillance of the marine economy and maritime safety. “

for Green transition Jornal de Notícias explains that this payment (meaning climate change measures) will allow payment of the “first tranche of the project across the entire PRR period”.These include: Industrial decarbonization And that Production of renewable gas (including hydrogen).. Two new schemes are also funded in this category. General system of waste management And that An integrated management system for local fires.

600,000 computers for compulsory education (ie, up to the 12th year of state education) students and teachers Digital transition Category, as it is 17 Center (‘Polo’) National network of digital innovation The purpose is “development of technology for enterprises”.

Money arriving for Social science Cover “Various reformsLike the creation of National plan for emergency / temporary accommodationFunds National strategy to include people with disabilities2021-2025, National Strategy to Fight Poverty, Mental Health Reform, When ‘Action plan for underprivileged communities in the metropolitan areas of Lisbon and Porto.. A Azores Public Housing Project You will also receive some money for “repair and construction”.

Fifth country to receive

Portugal was the first country to bring PRR to Brussels, but it was the fifth to receive this first payment.Has been done first Greece (3.6 billion euros), Spain (10 billion euros), France (7.4 billion euros) When Italy (21 billion euros).

The reason for being in fifth place is related to the time it took Portugal to reach the predefined goals of Brussels.

According to JN, if the country continues to achieve these goals, the next payment (€ 1.82 billion) will be made in the second half of this year and the third payment will be € 2,331 million in the first half of 2023. I am.

There seems to be more money

… And there is more money that is likely to come. JN explained that the originally outlined € 16.6 billion was mentioned. Expected economic calculations About the decline in GDP of member countries. “Portugal’s losses were better than expected, which will increase its final value (of the PRR).” JN has suggested that a non-refundable grant could result in an additional € 1.59 billion in sanctions, calling the additional funding “”.Mini PRR’..

“There is no specific date for this mini PRR to be created, so the added value that Portugal has rights to will only be confirmed in June,” the newspaper said.

Ministry of Public Affairs Rambusts Financial Management

Today’s JN article was both informative and bland.It didn’t mention Hurt the Ministry of Public Affairs Report on A committee whose mission is to monitor spending Of Portuguese bazooka funding.

According to the tabloid Correioda Manhã The report was very “catastrophic” The publication is I advised you to oppose it.

“The document accessed by the CM analyzed the alert system implemented by. Commission for Accompaniment and Control (CAC) “PRR”, the paper states.

“The Ministry of Public Affairs Conclusion of the Controller-General of Finance (IGF) Said The internal control system needs improvement, To ensure the necessary and complete compliance with regulatory requirements and applicable guidelines. “

In other words, these regulatory requirements are not currently guaranteed as far as financial inspectors are concerned.

The CM says, the Ministry of Public Affairs thus “ask why this first tranche payment was a green light.”

also, Inconvenient facts BeingNo separation of functionsIn this process. ” That sounds like it’s properly vague, but that’s what it means. President of CAC Is nothing but President of IGF (Who said that internal control needs improvement …)

another Important gray area that is Shortage of personnel in the mission structure “Recovery of Portugal”, Paper says. “The government considered this structure to be 60 employees, but by the end of 2021, there were only 29.”

“There is also Vulnerability when checking so-called “double finance”. This means that there is no easy way to identify projects that “have the same purpose and may be candidates for funding from Portugal 2020, Portugal 2030, and PRR.”

lastly, “There is no formal audit or management strategy on the CAC side” An overview of such a strategy emerged at the February meeting, but “three months without a definitive document,” the paper said.

natasha.donn@algarveresident.com

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