In Miguel Albuquerque’s view, Madeira’s higher inflation than the national average is mainly due to the impact of tourism and services on the regional economy. Given this reality, he rejected the view that the difference is explained mainly by food prices, arguing that these are about 3.17% cheaper in the Region. According to the President of the Government, the pressure works especially on the prices charged in areas such as accommodation, hotels, restaurants and transport linked to tourism activity.
The minister argued that, in an economy in which about 30% of GDP depends on tourism, the valorisation of services ends up producing greater inflationary pressure in these areas. He argued, however, that higher prices may also reflect the improvement in the quality of supply.
Fight for the regions’ funds will remain
In addition, and in a reaction to the position taken this Tuesday by Luís Montenegro, in Strasbourg, Miguel Albuquerque once again defended the maintenance of the funds European Communities for the Outermost Regions in the financial framework of 2028-2034, highlighting the strategic importance of these territories for the presence of the European Union in the world.
The President of the Government recalled the joint position of Portugal, Spain and France with the European Commission and stressed that, through the outermost regions, the European Union maintains a physical presence in the Atlantic, Caribbean, South America and Indian Ocean.
Albuquerque considers it necessary to continue to raise awareness, especially in Northern European countries, of structural difficulties in the permanent services of the ORs. The governor will take over, at the beginning of November, the Presidency of the Conference of Presidents of the Outermost Regions, in the Guadalupe, assuring that he will continue this work.
Social Security accounts will be rectified
On the regional Social Security accounts which have yet again not obtained the approval of the Court of Auditors, Albuquerque assured that they will be rectified and resubmitted.
The President of the Government recognises the need for dialogue with the Court of Auditors and compliance with the rules, but again criticized what he considers to be excessive bureaucracy. “The country is entangled in a Byzantine bureaucracy,” he said, arguing that the existing rules make it increasingly difficult for leaders to make decisions and execute procedures.
Samantha Gannon
info at madeira-weekly.com
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