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

USD -
AED 3.672497
AFN 65.476996
ALL 80.624983
AMD 364.974259
ANG 1.789783
AOA 917.999692
ARS 1491.741104
AUD 1.415168
AWG 1.80125
AZN 1.701624
BAM 1.695131
BBD 2.013772
BDT 122.727568
BGN 1.696366
BHD 0.377013
BIF 2989.30472
BMD 1
BND 1.279707
BOB 11.723256
BRL 5.1822
BSD 0.999822
BTN 95.377802
BWP 13.458947
BYN 3.007007
BYR 19600
BZD 2.01086
CAD 1.39104
CDF 2273.000038
CHF 0.813602
CLF 0.023234
CLP 914.439757
CNY 6.743203
CNH 6.74494
COP 3125.47
CRC 448.949346
CUC 1
CUP 26.5
CVE 95.568479
CZK 20.982202
DJF 178.045684
DKK 6.47703
DOP 58.519421
DZD 132.928959
EGP 50.180797
ERN 15
ETB 159.950519
EUR 0.86641
FJD 2.21345
FKP 0.740977
GBP 0.740675
GEL 2.610111
GGP 0.740977
GHS 11.128686
GIP 0.740977
GMD 73.507249
GNF 8783.265513
GTQ 7.627971
GYD 209.1829
HKD 7.84673
HNL 26.864959
HRK 6.528501
HTG 130.780532
HUF 314.866498
IDR 17819.3
ILS 2.95937
IMP 0.740977
INR 95.438198
IQD 1310.5
IRR 1374587.501968
ISK 123.1974
JEP 0.740977
JMD 158.180975
JOD 0.70897
JPY 159.192006
KES 129.209874
KGS 87.449726
KHR 4046.698677
KMF 427.000133
KPW 900.000294
KRW 1414.934982
KWD 0.30876
KYD 0.833243
KZT 465.286595
LAK 22558.404583
LBP 89534.106716
LKR 333.288554
LRD 181.477003
LSL 16.129242
LTL 2.95274
LVL 0.60489
LYD 6.368494
MAD 9.261251
MDL 17.356486
MGA 4305.000212
MKD 53.324955
MMK 2099.413896
MNT 3597.332522
MOP 8.081473
MRU 40.066389
MUR 47.110158
MVR 15.450097
MWK 1733.741837
MXN 17.029504
MYR 4.083098
MZN 63.909717
NAD 16.129242
NGN 1362.719669
NIO 36.792109
NOK 9.489865
NPR 152.601176
NZD 1.704145
OMR 0.384502
PAB 0.999848
PEN 3.373009
PGK 4.402496
PHP 61.3645
PKR 277.775001
PLN 3.73456
PYG 5967.212831
QAR 3.643501
RON 4.541897
RSD 101.634987
RUB 83.076123
RWF 1469
SAR 3.753929
SBD 8.048583
SCR 13.910203
SDG 600.497914
SEK 9.549399
SGD 1.27971
SHP 0.740866
SLE 24.498131
SLL 20969.499227
SOS 571.496016
SRD 37.7225
STD 20697.981008
STN 21.425
SVC 8.748445
SYP 13001.999906
SZL 16.133575
THB 33.175497
TJS 9.23879
TMT 3.51
TND 2.934994
TOP 2.40776
TRY 47.885201
TTD 6.780175
TWD 32.007396
TZS 2645.774976
UAH 44.693081
UGX 3712.16225
UYU 40.060498
UZS 11950.000135
VES 770.1091
VND 26100.5
VUV 118.611996
WST 2.733656
XAF 568.516344
XAG 0.015585
XAU 0.000231
XCD 2.70255
XCG 1.801951
XDR 0.707052
XOF 568.504905
XPF 103.824971
YER 237.197941
ZAR 16.195635
ZMK 9001.202229
ZMW 18.797263
ZWL 321.999592
  • CMSC

    0.0250

    21.475

    +0.12%

  • NGG

    0.5200

    81.2

    +0.64%

  • CMSD

    0.0000

    21.59

    0%

  • RYCEF

    -0.3900

    20.71

    -1.88%

  • RBGPF

    -0.8200

    71.34

    -1.15%

  • BTI

    1.5100

    57.35

    +2.63%

  • GSK

    0.1500

    50.45

    +0.3%

  • RELX

    0.1200

    34.67

    +0.35%

  • BCE

    0.1900

    23.32

    +0.81%

  • RIO

    -3.0200

    98.2

    -3.08%

  • VOD

    0.1300

    16.22

    +0.8%

  • BCC

    -0.1200

    84.13

    -0.14%

  • JRI

    -0.0300

    12.68

    -0.24%

  • BP

    -0.1000

    42.83

    -0.23%

  • AZN

    -1.2600

    157.24

    -0.8%

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