Portugal Municipalities To Get 1 Billion Euros For Debt

Portugal’s government will approve a 1 billion-euro ($1.3 billion) credit line to municipalities to help them repay short-term debt to suppliers, said Miguel Relvas, the country’s minister for parliamentary affairs.

“The credit line, with a total value of 1 billion euros, aims to inject money into the local economy,” Relvas said at a news conference in Lisbon today after meeting the president of the country’s association of municipalities, Fernando Ruas.

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