LISBON, March 18 (Xinhua) -- Portuguese government on Wednesday announced a set of credit lines worth of 3 billion euros (3.28 billion U.S. dollars) to support the sectors most affected by the COVID-19 pandemic.
The credit lines will go to the sectors most affected by the pandemic, such as catering, tourism and industry, said Minister of Economy Pedro Siza Vieira at an online joint press briefing with Minister of Finance Mario Centeno.
The credit lines, made available through the banking system, may be used from the next few days, the minister said, adding that these credit lines have a grace period until the end of the year and can be amortized over four years.
The 200 million-euro credit line for the economy in general, which had already been announced last week, will be "reviewed and made more flexible" in terms of access, he explained, hinting the reference to a turnover fall of 20 percent would be removed.
Meanwhile, Minister Centeno announced that companies will have access to a moratorium, granted by the bank in the payment of capital and interest, while company's contributions to Social Security will be reduced in March, April and May "in order to preserve employment."
Portuguese President Marcelo Rebelo de Sousa, who has just finished his 14-day voluntary quarantine at his residence, is widely expected to declare a "state of emergency" later Wednesday after chairing a meeting of the State Council.
Portugal has been on alert since last Friday, and the government has put civil protection means and security forces and services on standby.
Portugal has suspended classroom activities in all schools and all air, water and railway links with neighboring Spain.
The number of confirmed COVID-19 cases in Portugal rose to 642 on Wednesday, up by 194 from the previous day, according to the Directorate-General of Health (DGS).
