PORTUGAL

Portugal has seen vast impacts to their economy due to the COVID-19 pandemic. Over that time, the government has introduced several policy and fiscal measures to support challenged businesses and affected residents.

For businesses and individuals, the Portugal government has released the following support mechanisms:

– Direct financial support for furloughed employees equaling approximately €1 billion per month;

– Deferrals of tax and social security contributions;

– Guaranteed credit lines for Small and Medium-Sized Enterprises; and,

– Support for individuals directly affected by the COVID-19 pandemic

For additional information on the introduced policies, along with the plan for opening up the economy, the Portugal government has released an official document: COVID-19 Plano de desconfinamento.