EU funds cold bazooka private company

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The great ‘bazooka’ of EU funding is freezing private enterprise.

According to the reports that one reads, public entities receive either “11 times more money than private companies” (Correio da Manhã Observatory today), or even more.

ECO online, for example, states that “of the 16 billion euros coming from the PRR (Recovery and Resilience Plan), only 9 million euros went to projects promoted by private companies. Public companies have received more than 700 million euros”.

The ECO article was compiled from statements by the vice-president of the Portuguese Business Federation (CIP), Armindo Monteiro, last Monday; CM’s consultation of the PRR site yesterday.

Whatever angle you take, public companies are much easier.

According to Monteiro, about the “cake” that arrives in Portugal (cake meaning pile of money), “a third is destined for private companies, that is approximately 5 billion euros. But out of these 5 billion euros, only 262 million euros have been approved until (last Monday), and only 9 million euros have been paid”.

Since these comments, and according to CM, an additional 2 million euros had to be paid.

But if we compare this to the more than 700 million euros of projects approved for public entities and the 400 million euros paid, it is clear which sector benefits.

“The lion’s share of this funding has been allocated to state initiatives,” said Armindo Monteiro, presenting a new CIP survey showing how many private companies (84%) consider state support / any support is insufficient.

The PRR was designed to help businesses ‘recover’ and continue to be resilient after the Covid-19 pandemic – but the result of the program appears to be that private businesses have seen less than 1% of the promised aid delivered. shape.

It’s “ridiculous”, says Monteiro, and clearly shows “that there is a completely different approach to public entities”.

CIP calls for ‘urgent solution’ and ‘guarantees it will question government’ on why projects proposed by private enterprise are taking so much longer than anything proposed by public concerns, says CM .

Paying “special” attention to this subject today, the newspaper publishes an editorial alongside the headline “gluttonous state“Warning:” Public managers are sitting at the high table of the PRR and already halfway through the banquet. If this continues and nothing is done to restore the balance, the PRR will only be a new instrument to accentuate the historical imbalance that marks this country: an increasingly large state dominating and voraciously consuming private initiative and civil society, which will accentuate reliance on favors and ‘little bits of help’.

“Portugal will continue to be a delayed project…”

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