The Azores may lose around 53 million euros in revenue next year due to the update of data on the resident population in the archipelago. The estimate was presented by the regional secretary for Finance, Planning and Public Administration, Duarte Freitas, during a hearing at the Economy Committee of the Legislative Assembly of the Azores.
Duarte Freitas was heard at the committee meeting in Ponta Delgada, where he presented data on the impact of the demographic update on regional finances. The loss of revenue is directly linked to the decrease in the resident population numbers in the Azores.
This reduction in revenue represents a significant blow to the regional budget, since many state funds and transfers are calculated based on the resident population. The update of population data reflects a trend of demographic decline in the archipelago, which will have direct consequences on the funding available to the region.
