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Madeira Receives 20 Million Euros Less Than Last Year

According to the preliminary draft State Budget proposal for 2020 (SO2020), the Autonomous Region of Madeira will receive approximately €228 million in the next financial year, almost €20 million less than in 2019.

The preliminary version of the SO 2020, also confirms that the new Central Hospital of Madeira, projected to cost about €340 million, will be 50% co-financed by the Government of the Republic.

In addition, the proposal states that the state will allocate €228,306,620 to Madeira, which this year received €247,434,734.  Of the total amount, €182,645,296 will be transferred under Article 48 (Budgetary Transfers) of the Autonomous Regions’ Finance Law while a further €45,661,324 is to be paid under Article 49 (Cohesion Fund for the Outermost Regions).

In addition to financial support for the construction of the new Central Hospital in Madeira, the Executive notes that in 2020, he will continue the ‘necessary actions to ensure the replacement of submarine cable interconnections between the continent and the autonomous regions, as well as between the respective islands.’

Samantha Gannon

info at madeira-weekly.com

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