“Public accounts are much worse”: Miranda Sarmento estimates deficit at 600 million euros – Politics

The Council of Ministers began this Thursday, the 5th meeting of the Luís Montenegro Government since this executive took office.

António Leitão Amaro, Minister of the Presidency, is accompanied by Joaquim Miranda Sarmento, Minister of State and Finance.

The Minister of Finance estimated the deficit recorded until the end of the first quarter of this year at around 600 million euros and accused the previous Government of having increased spending after the last legislative elections.

“The budgetary situation is much worse than what the previous Government had announced”, declared Joaquim Miranda Sarmento at the end of the Council of Ministers meeting, saying that to the 300 million euros deficit recorded in the last budget execution summary it is important to add another 300 million euros as a result of increased debts to suppliers.

Government doubles IRS consignment limit

The Government approved an increase in the IRS consignment limit from 0.5% to 1% for “public utility” entities, to come into force in next year’s campaign, announced the Minister of the Presidency.

António Leitão Amaro, explained that the issue is a doubling of the IRS allocation from 0.5 to 1% for public benefit institutions.

The minister highlighted that the measure applies to income earned by taxpayers this year, thus having effects on the IRS settlement campaign that takes place next year.