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

USD -
AED 3.672984
AFN 63.999698
ALL 80.977186
AMD 362.830125
ANG 1.790365
AOA 917.99975
ARS 1522.824962
AUD 1.439232
AWG 1.8025
AZN 1.700271
BAM 1.722428
BBD 2.015086
BDT 123.012972
BGN 1.683441
BHD 0.377003
BIF 2995
BMD 1
BND 1.277405
BOB 12.040458
BRL 5.1702
BSD 1.000454
BTN 95.892522
BWP 14.09417
BYN 3.010995
BYR 19600
BZD 2.012171
CAD 1.422375
CDF 2309.999922
CHF 0.83543
CLF 0.024662
CLP 973.780211
CNY 6.70475
CNH 6.709205
COP 3319.17
CRC 456.985341
CUC 1
CUP 24.01166
CVE 97.750209
CZK 21.552505
DJF 177.720292
DKK 6.594725
DOP 59.48895
DZD 133.867992
EGP 51.941799
ERN 15
ETB 163.421342
EUR 0.882129
FJD 2.24725
FKP 0.756991
GBP 0.75395
GEL 2.605011
GGP 0.756991
GHS 11.743978
GIP 0.756991
GMD 73.501138
GNF 8798.844552
GTQ 7.643396
GYD 209.328131
HKD 7.84715
HNL 26.859007
HRK 6.646198
HTG 130.939066
HUF 323.268496
IDR 17933
ILS 3.07365
IMP 0.756991
INR 95.98395
IQD 1310.606294
IRR 1693792.497294
ISK 120.849935
JEP 0.756991
JMD 158.336929
JOD 0.70903
JPY 157.34008
KES 129.6597
KGS 87.448702
KHR 4057.22564
KMF 434.999712
KPW 900.000318
KRW 1355.549791
KWD 0.30888
KYD 0.833726
KZT 440.074329
LAK 22455.503791
LBP 89592.031739
LKR 330.60617
LRD 171.583824
LSL 16.385613
LTL 2.95274
LVL 0.60489
LYD 6.399
MAD 9.713019
MDL 17.763022
MGA 4394.578552
MKD 54.223526
MMK 2099.600314
MNT 3599.1704
MOP 8.086624
MRU 40.069045
MUR 47.690165
MVR 15.449751
MWK 1734.754084
MXN 18.069545
MYR 4.080597
MZN 63.909822
NAD 16.385685
NGN 1327.250239
NIO 36.821108
NOK 9.61761
NPR 153.428035
NZD 1.77502
OMR 0.384501
PAB 1.000449
PEN 3.44424
PGK 4.528402
PHP 62.7685
PKR 277.158584
PLN 3.84925
PYG 5852.979771
QAR 3.647324
RON 4.651102
RSD 103.696974
RUB 83.375398
RWF 1477.228194
SAR 3.755513
SBD 8.032647
SCR 13.837787
SDG 601.499865
SEK 10.00663
SGD 1.277635
SHP 0.755829
SLE 24.650049
SLL 20969.491881
SOS 571.727998
SRD 37.621498
STD 20697.981008
STN 21.576683
SVC 8.75393
SYP 13002.000254
SZL 16.377071
THB 33.6035
TJS 9.214436
TMT 3.51
TND 2.978697
TOP 2.40776
TRY 49.015799
TTD 6.787408
TWD 31.877403
TZS 2640.002997
UAH 44.690709
UGX 3921.672237
UYU 40.308767
UZS 11835.41907
VES 857.98905
VND 25962
VUV 119.008285
WST 2.76852
XAF 578.638992
XAG 0.016618
XAU 0.000240947889
XCD 2.70255
XCG 1.803098
XDR 0.707052
XOF 578.638992
XPF 105.029547
YER 236.39594
ZAR 16.42399
ZMK 9001.19938
ZMW 19.559579
ZWL 321.999592
SSP 5712.591899
MXV 2.045433
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

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