The China Mail - Portugal's Socialists re-elected with majority

USD -
AED 3.672496
AFN 63.50433
ALL 83.192586
AMD 375.730804
ANG 1.790083
AOA 916.999997
ARS 1390.101098
AUD 1.460771
AWG 1.8
AZN 1.696439
BAM 1.693993
BBD 2.007535
BDT 122.298731
BGN 1.709309
BHD 0.376597
BIF 2960.807241
BMD 1
BND 1.28353
BOB 6.91265
BRL 5.240403
BSD 0.996752
BTN 94.473171
BWP 13.741284
BYN 2.966957
BYR 19600
BZD 2.004591
CAD 1.390035
CDF 2282.50088
CHF 0.799635
CLF 0.023381
CLP 923.219739
CNY 6.91185
CNH 6.92254
COP 3674.03
CRC 462.864319
CUC 1
CUP 26.5
CVE 95.504742
CZK 21.333972
DJF 177.489065
DKK 6.500845
DOP 59.330475
DZD 133.010264
EGP 52.874602
ERN 15
ETB 154.083756
EUR 0.869898
FJD 2.257398
FKP 0.752712
GBP 0.755403
GEL 2.679573
GGP 0.752712
GHS 10.921138
GIP 0.752712
GMD 73.50089
GNF 8739.335672
GTQ 7.62808
GYD 208.64406
HKD 7.83245
HNL 26.46399
HRK 6.557007
HTG 130.656966
HUF 339.504022
IDR 16965
ILS 3.137619
IMP 0.752712
INR 94.78205
IQD 1305.703521
IRR 1313249.999923
ISK 124.940227
JEP 0.752712
JMD 156.892296
JOD 0.708969
JPY 160.0815
KES 129.650234
KGS 87.449953
KHR 3992.031527
KMF 428.000223
KPW 900.00296
KRW 1511.290246
KWD 0.30791
KYD 0.830627
KZT 481.867394
LAK 21678.576069
LBP 89256.247023
LKR 313.975142
LRD 182.893768
LSL 17.115586
LTL 2.95274
LVL 0.60489
LYD 6.362652
MAD 9.315751
MDL 17.507254
MGA 4153.999394
MKD 53.388766
MMK 2098.832611
MNT 3571.142668
MOP 8.042181
MRU 39.797324
MUR 46.770112
MVR 15.450254
MWK 1728.292408
MXN 18.156455
MYR 4.022502
MZN 63.950186
NAD 17.115586
NGN 1378.509666
NIO 36.680958
NOK 9.74951
NPR 151.156728
NZD 1.74604
OMR 0.38408
PAB 0.996752
PEN 3.472089
PGK 4.307306
PHP 60.530976
PKR 278.184401
PLN 3.72839
PYG 6516.824737
QAR 3.634057
RON 4.435203
RSD 101.684639
RUB 81.655379
RWF 1455.545451
SAR 3.752751
SBD 8.042037
SCR 15.03876
SDG 601.000304
SEK 9.478605
SGD 1.28959
SHP 0.750259
SLE 24.550052
SLL 20969.510825
SOS 569.659175
SRD 37.60102
STD 20697.981008
STN 21.220389
SVC 8.721147
SYP 110.527654
SZL 17.114027
THB 32.960288
TJS 9.523624
TMT 3.5
TND 2.938634
TOP 2.40776
TRY 44.461899
TTD 6.772336
TWD 31.991979
TZS 2579.99977
UAH 43.689489
UGX 3713.134988
UYU 40.344723
UZS 12155.385215
VES 467.928355
VND 26337.5
VUV 119.385423
WST 2.775484
XAF 568.149495
XAG 0.014713
XAU 0.000226
XCD 2.70255
XCG 1.796371
XDR 0.706596
XOF 568.149495
XPF 103.295656
YER 238.600239
ZAR 17.166203
ZMK 9001.208457
ZMW 18.763154
ZWL 321.999592
  • JRI

    -0.2700

    11.8

    -2.29%

  • CMSD

    -0.0900

    22.66

    -0.4%

  • GSK

    -0.1000

    53.84

    -0.19%

  • BCC

    0.1400

    74.43

    +0.19%

  • NGG

    -0.4800

    81.92

    -0.59%

  • BCE

    -0.2200

    25.25

    -0.87%

  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.0500

    22.77

    -0.22%

  • BTI

    0.3749

    57.8

    +0.65%

  • AZN

    5.0200

    188.42

    +2.66%

  • RIO

    0.8500

    86.64

    +0.98%

  • VOD

    -0.1400

    14.49

    -0.97%

  • RELX

    -0.1000

    31.97

    -0.31%

  • RYCEF

    -0.5900

    14.65

    -4.03%

  • BP

    0.5100

    46.68

    +1.09%

Portugal's Socialists re-elected with majority
Portugal's Socialists re-elected with majority

Portugal's Socialists re-elected with majority

Portugal's ruling Socialists unexpectedly won an outright majority to govern solo after snap elections on Sunday that also saw the far right make huge gains.

Text size:

The results pave the way for a stronger government under Prime Minister Antonio Costa as the country tries to boost its tourism-dependent economy, which has been badly hit by the pandemic.

A stable government is crucial for Portugal to make the most of a 16.6 billion euro ($18.7 billion) package of European Union recovery funds it is due to receive by 2026.

Costa, 60, had previously relied on two far-left parties to underpin his minority Socialist governments since 2015.

The Socialists took 117 seats in the 230-seat parliament, up from 108 in the outgoing assembly.

Despite predictions of a tight race, the main opposition centre-right PSD party landed 71 seats.

Four seats still need to be attributed in the coming days with the results of votes cast abroad, but in 2019 the Socialists obtained two of those.

"An absolute majority is not absolute power, governing alone...it is increased responsibility," Costa told supporters at his party's campaign headquarters.

"The conditions have been created to carry out investments and reforms for Portugal to be more prosperous, fairer, more innovative."

The results bucked the trend of declining fortunes for Socialist parties in other European nations, including in Greece and France where they have been virtually wiped off the map in recent years.

- 'Restore dignity' -

The vote also handed gains to far-right party Chega, which became the third-biggest contingent with 12 seats, up from just one, mirroring the rise of such formations elsewhere in Europe.

"Everything is going to be different in parliament," Chega leader Andre Ventura, a tough-talking former TV sports commentator, told his supporters.

"From now on there won't be a soft opposition. We will assume the role of being the real opposition to the Socialists...and restore dignity to this country."

Sunday's snap polls were called after two far-left parties that had propped up Costa's minority government sided with right-wing parties to reject his 2022 draft budget in October.

The two far-left parties -- the Left Bloc and the Communist Party -- both lost seats.

The Socialists had a comfortable lead when the election was called, but polls had suggested PSD managed to close the gap in recent days.

During the final stretch of the campaign, Costa repeatedly warned that a PSD-led government would be held "hostage" by the far right Chega, whose proposals include castrating sex offenders and more support for the police.

PSD leader Rui Rio had vowed not to include Chega in a government but indicated he was willing to head a minority government propped up by support from the far right.

- 'Stability is needed' -

Catia Reis, a 39-year-old human resources manager, said she had voted for the Socialists because "stability is needed".

"It is not the moment for a political change," she added after casting her ballot at a Lisbon polling station.

Under Costa's watch, Portugal has rolled back austerity measures, maintained fiscal discipline, increased the minimum wage significantly and slashed unemployment to pre-pandemic levels.

The country also achieved the highest immunisation rate against Covid-19 in Europe, with over 90 percent of its population fully vaccinated.

"I voted for the Socialists because we need them at this difficult time," said Manuel Pinto, a retired 68-year-old former carpenter, after he voted in Lisbon.

PSD leader Rui Rio, 64, had argued the economy should expand faster. His party proposes corporate tax cuts to spur growth.

He had called for lower corporate taxes and privatisations to spur growth.

Before the final results, Rio hinted that he would step down as PSD leader if Costa won an absolute majority.

Q.Moore--ThChM