Centeno attacks “4,750 million euros in unexplained accounts” of PSD – Jornal Económico

Mário Centeno entered the duel of the accounts and criticized the proposals of Rui Rio and Miranda Sarmento for public finances. In a campaign action, in a press conference format, the finance minister considered that the macroeconomic scenario that underpins the Social Democrats' program will translate into a “return to amending” and “excessive deficits”.

“This is the return to rectifications, because this scenario has to be rectified. Excessive deficits because the economy faced with the uncertainty of these scenarios will get into difficulties. We have at least EUR 4,750 million in the ether of these accounts which needs to be explained. This only has one consequence: the instability of economic policies, ”said Mário Centeno of the PSD program.

Scrutinizing the opponents' accounts, Centeno stressed that, on the revenue side, "EUR 3.9 billion is still missing in the PSD scenario."

“That is, the revenue is over 3.9 billion euros. Even if we consider GDP growth, which is unrealistic, but if we consider that it will be realized, the total revenue that is foreseen in the PSD program is overvalued by two billion euros. Just by the effect of the tax reaction, two billion euros more are forecast than what the Portuguese economy has generated from revenue for a given GDP growth, ”he added.

From the Centeno's point of view, the problem still lies in “underfunding by € 2,750 million” on program expenditure.

“If we allocate 25% to tax reduction, 25% to increase investment and what we need to allocate so that the budget balance goes from a deficit in 2019 to a surplus in 2023 there is 2.750 million euros of expenditure left to justify ", said.

For Centeno, “the PSD makes many promises in public service investment, in the public service, the increase in social benefits”, however, “these promises do not match the evolution of spending in the PSD scenario”.

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