OE2024: Measures ensure largest increase ever

The coming year is expected to bring greater financial stability to the portfolios of the Portuguese. But can this probability be increased even further? Save on your credit and insurance premiums: Find out how by contacting Poupança no Minuto. Or understand the measures that will benefit you in the coming year.

Discover the measures that stand out in the approved 2024 State Budget.

Through a post shared on the social network Instagram, the Government reveals that, with the new State Budget, we will observe "the largest increase ever in support for families", with an investment of 2.3 million euros in families with children. This number is in comparison to the amount of one billion in 2015.

However, in the same publication, the Government clarifies that "increasing incomes, supporting families, and protecting the most vulnerable are reconciled by a historic reduction in public debt".  

As a highlight, the publication emphasizes the following measures: 

• Reduction of income tax for middle class;
  
• 100% exemption from income tax for young people in their first year of work;  
• General increase for pensions, above the inflation level;  
• Increases for all Public Servants. 

Note that the State Budget was approved in the Assembly of the Republic on November 29, through the final global vote, with favorable votes from the PS, abstentions from the single deputies of Livre and PAN, and votes against from the PSD, Chega, Iniciativa Liberal, PCP, and BE.

Remember that the legislative elections were brought forward to March 10, following the resignation of Prime Minister António Costa on November 7. The government's resignation will be formalized by the President of the Republic, Marcelo Rebelo de Sousa, at the beginning of December through a decree, an act that has been postponed to allow for the final approval of the 2024 State Budget which is now formalized. 

Creating a financial cushion will be easier.

So, 2024 may provide better conditions to allow the Portuguese to create a financial cushion. But if you need to increase your savings even more for next year, you can follow the path of lowering installments on your loans and insurance.

Often, after hiring products, we forget to negotiate the conditions later, which can help reduce the amount we pay for them. Renegotiating the contract or transferring it to another entity are two viable options.

Therefore, if this is your case, contact the credit intermediaries of Poupança no Minuto and we will analyze what we can do in your case!