The Azores may lose, next year, around 53 million euros in revenue due to the update of data on the resident population in the archipelago. The warning was made by the regional secretary for Finance, Planning and Public Administration, Duarte Freitas.
Duarte Freitas was heard at the Economy Committee of the Legislative Assembly of the Azores, meeting in Ponta Delgada. During his speech, he explained that the loss of revenue is directly linked to the decrease in the resident population in the Azores.
The update of population data by the National Statistics Institute will have a significant impact on financial transfers to the autonomous region. This value represents a substantial decline in the funds the region expected to receive.
The official warned about the consequences of this situation for regional finances and the capacity for budget planning for the next year. The loss of these 53 million euros directly affects the available budget for public policies and investments in the region.
