The unprecedented health crisis due to COVID-19, is affecting the Portugal and its growing economy. The prospect of a big hit to GDP has triggered a swift and forceful policy reaction from central banks. In order to prevent the spread of the virus and the possibility of contagion, the Portuguese authority has announced a series of measures aimed at keeping its economy afloat.
The European Commission approves $21 million Portuguese credit line scheme to support fishery and aquaculture sector in coronavirus outbreak
- Portugal notified to the Commission under the Temporary Framework a $21 million credit line scheme to support companies in the fishery and aquaculture sector affected by the coronavirus outbreak.
- The public support will consist in the provision of loans worth up to $21 million with subsidised interest rates, to help companies active in the fishery and aquaculture sector (such as fishing companies, producers’ organisations and companies active in the processing of fishery and aquaculture products) overcome cash difficulties arising from the current crisis.
- The scheme, which will be accessible to small and medium-sized enterprises (SMEs) active in the fishery and aquaculture sector, aims at enabling those companies that are most affected by the current crisis, to have access, at reduced costs, to the financial means they need to maintain their activities.
The measures apply to the entire Portuguese territory, with specific measures in the archipelagos of Madeira and the Azores decreed by the regional governments.
- All services should take hygiene and sanitisation measures according to the indications of the Directorate-General for Health, with specific measures for various sectors of activity, which will open doors to the public at different times.
- It is mandatory use of face mask.
- The National Maritime Authority has banned all sports or leisure activities that involve the concentration of people on the beaches of mainland Portugal, Azores and Madeira and recommends avoiding trips to the beach.
- Travel within Portuguese territory was reduced to the minimum possible and the car rides are not allowed.
- During the State of Emergency commercial passenger flights to and from national airports are not allowed