Average citizen owes €386

… as household spending falls

Average citizen owes €386 1

The Diario leads today with a report that, across all 11 municipalities in the Region, on average every citizen owes the local authority €386.

Funchal, São Vicente, Porto Santo and Porto Moniz are the most notable areas, with an average debt of over €500 according to the Portugues Local Authorities Financial Yearbook.

Household spending falls

The Portugal News reports that household expenditures decreased by 8% in the EU in 2020 compared to 2019, with Portugal registering the 6th biggest fall.

According to the European Statistics Office, the 8% drop in household expenditure is the biggest annual reduction since the beginning of their statistics, with all EU countries recording a decrease in household expenditure.

Malta leads the ranking (22%). Next on the list are Croatia, Spain and Greece (all in the region of 16%) and Cyprus (around 14%), followed by Portugal at 12%.

COVID-19 in Madeira: daily updates can be found in an earlier post

Travel latest: requirements for entering and leaving Madeira: is kept up-to-date on a previous post

New restrictions: a detailed updated explanation of the latest regulations can be found here

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