Each Portuguese financed the banks with approximately 2,200 euros.

Each Portuguese has financed banks by an average of about 2,200 euros over the past 14 years. This is a translation of the cost of state support for the financial sector, calculated by the Court of Accounts, between 2008 and 2021, which exceeded 22 billion euros.

“The government’s largest financial efforts were concentrated between 2012 and 2016, with BES/NB being the financial institution that benefited the most from this government support, with 37.6% [8,2 mil milhões de euros] of the total, followed by BPN with 27.9%[6,1 mil milhões]”, according to the conclusion of the General State Account for 2021, presented on Tuesday by the Chairman of the Accounts Chamber to the Assembly of the Republic.

For the first time, the document was presented prior to the submission of the budget to include the recommendations made. In 2021, the cost of this banking support amounted to 432 million euros. “The most significant expenditure of €429 million was related to the transfer of the Settlement Fund (FdR) to Novo Banco,” the document says.

The NB has demanded a payment of €209 million in 2021, but “FdR believes it is not due, so has not made any payment in 2022.” Also under financial support, revenue in 2021 amounted to 219 million euros, a significant part of which comes from the recovery of guaranteed loans (BPP, Parvalorem and Parups) in the amount of 138 million.

Bad tax debt has doubled since 2016 to reach €7.7bn
Bad tax debt last year more than doubled from 2016 to €7.7bn, “representing a risk factor for the soundness of public finances,” the Court of Accounts (TdC) warned today. In the conclusion of the General Public Account, the organization concluded that “debt subject to enforcement by the tax authority amounted to 23.2 billion euros, which is 1.2 billion euros more (5.6%) than in 2020”, in part from for tax deferral measures. executions to mitigate the effects of the pandemic.