Portugal. Things are going better for Portugal and in
October the country received a higher credit rating from the
credit rating agency Moody's, which no longer considers
loans to Portugal to be at a "rubbish level", which has been
the assessment since 2011. The rating agencies S&P Global
and Fitch agree. They have already raised the country's
credit rating from "rubbish status" to "investment level".
It is now projected that Portugal's debt as a proportion of
GDP will fall to 116% in 2021. This should be compared with
the 2017 debt ratio of almost 125% of GDP. The growth
potential is up 1.5%, from an average of 0.3% in 2010-17.
And the yield on 10-year government bonds is down 2.02%,
compared with peak levels of over 16% during the euro crisis
in 2012. Last year, the net budget deficit was just below
the EU-approved threshold of -3.0%.
Countryaah.com, Swedish Finance Minister Magdalena Andersson announced in
the autumn that Swedish pensioners residing in Portugal
should no longer be able to deduct their occupational
pension tax-free. This after Portugal agreed to renegotiate
the so-called double taxation agreement from 2002 with
Sweden. When this happens is not yet clear. In Finland,
where you have had the same problem, you took the hard
gloves and presented a new agreement approved by the Riksdag
and the President in December 2016. But as this has not yet
been tabled in the Portuguese Parliament, Finland plans to
terminate its tax treaty with landed in January 2019.
The heat and fires hit Portugal this year as well. At the
beginning of August, 47 degrees of heat was noted (the
European heat record of 48 degrees was set in Athens in
1977), and the heat led to several forest fires that went
well into the fall. In the Algarve tourist region in
southern Portugal, the city of Monchique was surrounded in
August by a forest and land fire. Hundreds of firefighters
fought the fire, which covered 15,000 acres. In October, the
Sintra-Cascais National Park, just over 3 km west of the
capital Lisbon, was hit by a forest fire where over 750
firefighters were deployed. In the long term, to overcome
the many fires, a pilot project was started in October where
370 goats would feast on under vegetation and make the
landscape less fire sensitive.
From 2024 it will be banned from wild animals at the
circus in Portugal. Parliament decided this at the end of
October. Over 40 species are covered by the ban, which
includes lions, tigers, camels and zebras. In addition, the
circus artists who leave their animals are promised support
for changing jobs. The issue has been driven by the Animal
and Nature Party (PAN), which entered parliament in 2015.