The 2024 Portuguese State Budget was approved last week in a final global vote

Written By Manuel Poças

The final budget of the current Prime Minister’s era was approved last week at the Portuguese Assembly of the Republic, in a final global vote that comprised all the political parties.

As referred previously, the Portuguese President of the Republic stated that he would only formally, and officially, accept the Prime Minister’s resignation after the approval of the State Budget for next year. That, according to the words of the President, would help guarantee the necessary social and economic stability.

The global final vote, which took place last week at the Assembly of The Republic, after four days of voting on the specifics, relied on the majority of the Portuguese Socialist Party (PS). The 2024 State Budget was approved solely with the party’s favorable vote. Because of the party’s absolute majority, no other favorable votes were required.

The global final voting was the following: 1 favorable vote; 2 abstention votes; 5 votes against.

Notwithstanding, out of the 180 proposals that were approved within the Budget, 74 belonged to the opposition (other political parties). According to the socialist parliamentary leader, this was the first time an absolute majority approved so many proposals of the opposing political parties.

According to the Prime Minister’s statement, in 2024, the Portuguese will have a State Budget that continues a path of improving income, promoting investment, and protecting the future.

In his words, “During the last eight years, it was possible to demonstrate that with an economic policy that focuses on more jobs, more qualifications, and more innovation, we would have greater investment and greater export capacity”.

The opposing political parties, however, do not agree. Whilst some criticized the Socialist Party itself saying it collapsed from the inside, others preferred to point out what they considered to be its failures.

The truth, by the statements made by the speakers of the parties, is that the ruling of the Socialist Party led to a political crisis, to the crisis of the National Health System, to the deepening of the housing crisis, and of the educational crisis, to an increase of unemployment and of the tax burden, among other things.

For the opposing parties, the 2024 State Budget will not improve the lives of the workers and of the people, nor it will ensure better public services and the necessary fiscal justice.

Nevertheless, it was approved and will be what the Portuguese will have to deal with during the next year, independently of the result of the new elections scheduled for March.

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