brytfmonline

Complete News World

Fernando Medina heard today in Parliament the debt reduction process – Executive Summary

Fernando Medina heard today in Parliament the debt reduction process – Executive Summary

The Assembly of the Republic approved a hearing for former Finance Minister Fernando Medina on the “special operation” to reduce debt.

According to the schedule of the Budget, Finance and Public Administration Committee, the session is scheduled to be held at three o’clock in the afternoon, and will be “on the facts mentioned by UTAO in its report No. 4/2024” –

The reduction in public debt at the end of last year was considered “artificial” by the Technical Budget Support Unit (UTAO), claiming that Medina used the consolidation of public debt (debt, when taken over by public administration entities, no longer counted for Brussels) and the Social Security Financial Stabilization Fund ( FEFSS) to achieve this low ratio.

Thus, the weight of public debt in the economy decreased to 99.1% at the end of last year, setting a benchmark of less than 100% of GDP. If this process had not occurred, the percentage would have been 107.9%, according to UTAO calculations.

On this topic the representatives want to hear from Fernando Medina. Also today, according to Negosius, the request for a hearing for the current Finance Minister will be discussed and voted on.

Recall that last week, Joaquim Miranda Sarmiento accused the former CEO of approving additional expenditures that ultimately left the budget situation “more difficult” than expected. More than a hundred decisions of António Costa's government are at stake, resulting in new unexpected expenses.