Targeted energy affordability support for the agricultural sector
As part of its April 2022 "New measures to contain the rise in energy and agri-food prices" enacted in response to the global energy crisis, the Portuguese government implemented targeted support is made to the agricultural sector, in the form of :
- Electricity subsidies covering of up to 20% of electricity costs. Duration: January 2022-December 2022;
- A reduction of Tax on Petroleum and Energy Products (ISP) on Agricultural diesel: by 0.34 €/L. Duration: March-December 2022;
- A VAT exemption on animal feed and fertilizers; and
- Accruals from the Wage Compensation Fund to support increases in production costs in fisheries sector.
Specific Treasury lines of credit were also opened for the sector :
- EUR 50 million to support companies facing liquidity constraints.
- EUR 8.5 million to specifically support pig farming companies facing liquidity constraints.
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