Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Portugal 01 01 - Liquidity Support EUR 1,000,000,000 1,106,194,690
Portugal 01A 01A - Short-term lending EUR 1,000,000,000 1,106,194,690 Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=nova-linha-de-credito-para-micro-e-pequenas-empresas-vai-estar-disponivel (accessed 18 July 2020).

7 July 2020, EUR1 billion new credit line for micro and small businesses.

Portugal 01B 01B - Support policies for short-term lending EUR
Portugal 01C 01C - Forex operations EUR
Portugal 02 02 - Credit creation EUR 4,663,000,000 5,158,185,841
Portugal 02A 02A - Financial sector lending/funding EUR
Portugal 02B 02B - Support policies for long-term lending EUR
Portugal 02B1 02B1 - Interest rate adjustments EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020). OECD. http://www.oecd.org/coronavirus/en/ (accessed 18 June 2020).

No amount/estimate: (i) The Banco de Portugal (BdP) has relaxed some aspects of its macroprudential measures for consumer credit; (ii) Series of measures directed to less significant banks under its supervision: (a) the possibility to temporarily operate below selected capital and liquidity requirements; (b) a recommendation to restrict dividend distributions; (c) extension of deadlines of some reporting obligations, (d) rescheduling of on-site inspections and the stress test exercise; (ii) June, new consumer credit (maturities up to 2 years), granted between 1/4-30/9 to mitigate households’ temporary liquidity shortages will not have to comply with the DSTI ratio threshold.

Portugal 02B2 02B2 - Other policies to support long-term lending EUR
Portugal 02C 02C - Loan guarantees EUR 4,663,000,000 5,158,185,841 OECD. http://www.oecd.org/coronavirus/en/ (accessed 9 May 2020). European Commision. https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1489 (accessed 29 August 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=governo-aprova-medidas-de-1550-milhoes-de-euros-para-apoio-a-economia- (accessed 07 November 2020).

(i) Direct state guaranteed credit support to companies that are most affected (EUR400 million) and for microenterprises in the tourism sector (EUR60 million); (ii) State guaranteed credit through the banking system: for restaurants (EUR600 million, EUR270 million for SMEs), tourism (EUR200 million, EUR75 million for SME), tourism accommodation (EUR900 million, EUR300 million for SME), industry (EUR1,300 million, EUR400 million for SME), fishing and aquiculture sectors (EUR20 million). Increased ceilings for export credit insurance schemes for metallurgic, mould, metal and mechanical industries (EUR100 million), construction abroad (EUR100 million), short-term exports (EUR50 million); (iii) 18 August 2020, EUR133 million in public guarantee on temporary loan for urgent liquidity needs of SATA airline; (iv) November 5, EUR800 million public guarantee for item iii in Measure 3A.

Portugal 03 03 - Direct long-term lending EUR 2,770,000,000 3,064,159,292
Portugal 03A 03A - Long-term lending EUR 2,770,000,000 3,064,159,292 Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=prejuizo-da-perda-da-tap-ultrapassaria-largamente-o-esforco-para-a-manter (accessed 04 July 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=aprovada-linha-de-credito-bonificada-para-o-setor-das-flores (accessed 19 September 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=governo-aprova-medidas-de-1550-milhoes-de-euros-para-apoio-a-economia- (accessed 07 November 2020).

(i) 2 July 2020, EUR1.2 billion Loan to TAP (airline); (ii) 17 September 2020, EUR20 million subsidized credit line for producers of cut flowers and ornamental plant affected by COVID-19; (iii) EUR1.55 billion to support the economy of which EUR750 million for support to SMEs, and EUR800 million for credit lines with public guarantee, including 160 million non-repayable.

Portugal 03B 03B - Forbearance EUR OECD. http://www.oecd.org/coronavirus/en/ (accessed 30 April 2020, 18 June 2020).

(i) No amount/estimate: Rescheduling of banking loans, with maturities extended due in the next 6 months until 30/9, with a moratory on capital and interest, and maturities extended for extra 6 months, applicable to (a) housing credit for families most affected (unemployed, laid-off, in prophylactic isolation or ill due to COVID-19) and (b) loans to firms, self-employed and social institutions; (ii) No amount/estimate: June, BdP implemented EBA Guidelines on legislative and non-legislative moratoria on loan repayments, with conditions not to trigger default of obligor and assessment of distressed restructuring.

Portugal 04 04 - Equity support EUR 55,000,000 60,840,708 Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=prejuizo-da-perda-da-tap-ultrapassaria-largamente-o-esforco-para-a-manter (accessed 04 July 2020)

2 July 2020, EUR55 million, government will buy shares of TAP (airline) reaching 72.5% in its capital.

Portugal 05 05 - Health and income support EUR 8,160,950,000 9,027,599,558
Portugal 05A 05A - Health support EUR 730,400,000 807,964,602 OECD. http://www.oecd.org/coronavirus/en/ (accessed 9 May 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=setor-de-medicina-intensiva-reforcado-com-26-milhoes-de-euros (accessed 22 August 2020). Servico Nacional de Saude. https://www.sns.gov.pt/noticias/2020/08/24/covid-19-expansao-da-capacidade-laboratorial/?utm_source=rss&utm_medium=rss&utm_campaign=covid-19-expansao-da-capacidade-laboratorial (accessed 28 August 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=servico-nacional-de-saude-reforcado-com-4380-profissionais (accessed 3 October 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=governo-cria-rede-nacional-de-estruturas-de-apoio-de-retaguarda (accesed 07 November 2020).

(i) 12 March 2020, EUR296 million to increase the capacity of the health sector; (ii) 14 May 2020, over EUR400 million per month (0.2% GDP) of additional resources for the national health service; (iv) 10 August 2020, EUR8.4 million to double virus testing capacity; (iv) 20 August 2020, EUR26 million for intensive care medicine; (v) No amount/estimate: 1 October 2020, permanent hiring of 2,995 health workers who were hired during the pandemic; (vi) No amount/estimate: 6 November 2020, covernment creates national network of back-up support structures to support people infected with the new coronavirus.

Portugal 05B 05B - Income support EUR 7,430,550,000 8,219,634,956
Portugal 05B1 05B1 - Tax and contribution deferrals and policy changes EUR 6,200,000,000 6,858,407,080 OECD. http://www.oecd.org/coronavirus/en/ (accessed 21 May 2020).

EUR6.2 billion (3.2% GDP) of (within-year) tax and social security contribution deferrals for companies and employees;

Portugal 05B2 05B2 - Tax and contribution rates reduction EUR
Portugal 05B3 05B3 - Subsidies to individuals and households EUR 1,000,000,000 1,106,194,690 OECD. http://www.oecd.org/coronavirus/en/ (accessed 21 May 2020). Portugal Governemnt. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=governo-lanca-linha-de-apoio-para-contratacao-de-recursos-humanos-no-setor-social (accessed 29 June 2020). Portugal Government. https://www.portugal.gov.pt/pt/gc22/governo/comunicado-de-conselho-de-ministros?i=352 (accessed 29 June 2020).

(i) EUR1 billion per month (0.5% GDP) in financial support for those temporarily furloughed by their employer; (ii) No amount/estimate: Additional financial support is also provided for: the self-employed affected by the virus; people forced to stay home to care for children, and; those sick or in isolation; (iii) No amount/estimate: 18 June 2020, extension on the existing measures for maintaining jobs in companies suffering from the COVID-19 crisis. Moreover, two more instruments are created: (a) compensation for workers with wages below certain minimum and b) incentives for companies to reincorporate workers;

Portugal 05B4 05B4 - Subsidies to businesses EUR 44,350,000 49,059,735 OECD. http://www.oecd.org/coronavirus/en/ (accessed 21 May 2020). Portugal Governemnt. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=governo-lanca-linha-de-apoio-para-contratacao-de-recursos-humanos-no-setor-social (accessed 29 June 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=medidas-de-apoio-as-empresas-e-ao-emprego (accessed 15 January 2021).

(i) EUR25 million fiscal package to support the entrepreneurship ecosystem; (ii) 21 June 2020, EUR10 million grants for social companies to hire new employees and adapting to COVID-19; (iii) 20 October 2020, EUR9.35 million Portuguese employment aid scheme to preserve jobs on the Azores Islands during the coronavirus outbreak; (iv) 14 January 2021, extension until March 2021 of the Programa Apoiar: access to aids up to 20% of the reduced profits. All companies whose activities will be affected by the new restrictions could access the "simplified layofff regime", the state will compensate partially or totally employee wages.[update]

Portugal 05B5 05B5 - Indirect income support EUR 49,000,000 54,203,540 Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=estado-vai-gastar-7-milhoes-a-comprar-equipamento-de-protecao-para-o-primeiro-periodo-letivo (accessed 06 August 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=medidas-de-apoio-as-entidades-empresas-e-trabalhadores-da-cultura (accessed 16 January 2021).

(i) 27 July 2020, EUR7 milllion puchase of equipment for schools; (ii) 14 January 2021, EUR42 million support plan for cultural sector (Plan Garantir Cultura).

Portugal 05B6 05B6 - No breakdown (income support) EUR 137,200,000 151,769,912 Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=125-me-para-reforcar-os-recursos-humanos-nas-escolas (accessed 04 July 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=ministra-da-agricultura-aprova-medida-excecional-no-pdr2020-no-valor-de-122-milhoes-de-euros (accessed 21 November 2020).

(i) 30 June 2020, EUR125 million to increase investment in education; (ii) November 18, EUR12.2 million aid to agriculture sector to minimize the economic and financial impacts caused by the pandemic Covid-19.

Portugal 05C 05C - No breakdown (health and income support) EUR
Portugal 06 06 - Budget reallocation EUR
Portugal 07 07 - Central bank financing government EUR
Portugal 07A 07A - Direct lending and reserve drawdown EUR
Portugal 07B 07B - Secondary purchase: government securities EUR
Portugal 08 08 - International Assistance Received EUR 1,000,000,000 1,106,194,690
Portugal 08A 08A - Swaps EUR
Portugal 08B 08B - International loans/grants EUR 1,000,000,000 1,106,194,690
Portugal 08B1 08B1 - Asian Development Bank EUR
Portugal 08B2 08B2 - Other EUR 1,000,000,000 1,106,194,690 European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1777 (accessed 24 October 2020).

21 October 2020, EUR1 billion of EU Cohesion policy funds to support Portugal's recovery redirected to COVID programs

Portugal 09 09 - International Assistance Provided EUR
Portugal 09A 09A - Swaps EUR
Portugal 09B 09B - International loans/grants EUR
Portugal 10 10 - No breakdown EUR 2,100,000,000 2,323,008,850 OECD. http://www.oecd.org/coronavirus/en/ (accessed 9 May 2020).

As of 20 April 2020, a EUR13 billion liquidity scheme, approved by European Commission, is available to provide direct grants and public guarantee loans to companies. Key measures include: (a) EUR1 billion a month financial support (see Non-health in Measure 5); (b) EUR3.7 billion of state-guaranteed credit lines (see Loan guarantees in Measure 2); (c) EUR6.2 billion of (within-year) tax and social security contribution deferrals for companies and employees. Out of EUR13 billion, allocation for EUR2.1 billion is not clear.

Portugal 11 11 - Other Economic Measures EUR
Portugal 12 12 - Non-Economic Measures EUR
Portugal 12A 12A - Measures affecting travel and transport (local and international) EUR OECD. http://www.oecd.org/coronavirus/en/ (accessed 12 April 2020, 30 April 2020, 9 May 2020). Government of Portugal. https://www.portugal.gov.pt/pt/gc22/comunicacao/noticia?i=recolhimento-obrigatorio-a-partir-de-15-de-janeiro (accessed 15 January 2021).

(i) Public containment has been implemented on 19 March 2020 after the announcement of the State of Emergency on the 19 March; (ii) Border control with Spain through mutual agreement started on 17 March 2020. Suspended air, rail, and river connections; (iii) 14 January 2021, new COVID-19 lockdown to come into force on 15 January 2021.

Portugal 12B 12B - Measures affecting business and workplace EUR OECD. http://www.oecd.org/coronavirus/en/ (accessed 12 April 2020, 30 April 2020, 9 May 2020).

(i) Suspension of all face-to-face school activities (teaching and non-teaching) from 16 March 2020 to be reassessed on 9 April 2020; (ii) Closure of non-essential shops, and all national monuments and places of cultural activities (both public and private); (iii) classes restarted on 14 April 2020 for high school, while TV schooling for primary education; (iv) From 4 May 2020, confinement measures have been eased. Small street shops, hairdressers, bookstores and car dealerships can reopen;

Portugal 12C 12C - Others EUR The Portugal News. https://www.theportugalnews.com/news/2020-11-09/portugal-begins-new-state-of-emergency-%E2%80%93-including-nightly-curfews/56629 (accessed 12 November 2020).

(i) 9 November 2020, start of new state of emergency against COVID-19, including nightly curfews.