Public investment in 2025 surpasses 2019 figures by over €200 million, announces Duarte Freitas - Communication

Secretaria Regional das Finanças, Planeamento e Administração Pública

The Regional Secretary for Finance, Planning and Public Administration, Duarte Freitas, highlighted today that regional public investment in 2025 reached "particularly significant levels," totalling €628.5 million, representing an increase of €208 million compared to 2019.

At a press conference held in Ponta Delgada, the government official also stressed that the implementation rate of the 2025 Investment Plan stood at 76.2%, above the average recorded between 2012 and 2019.

From an economic standpoint, Duarte Freitas mentioned the latest data released by the National Statistics Institute (INE), which puts the growth of the Azores' Gross Domestic Product (GDP) in 2024 at 2.3%, above the national average (2.1%), and on a convergence trajectory for the 2021-2024 period.

The government official also pointed out that nominal GDP growth between 2012 and 2019 totalled €802.5 million (an annual average of €114.6 million), compared to €1,378.8 million between 2021 and 2024 (an annual average of €459.6 million).

The Regional Secretary stated that the Region has inherited past liabilities, including debt in health and public companies such as SINAGA, SATA, Santa Catarina, and LOTAÇOR. Once these figures have been corrected, in fact, since 2021, debt has grown at an average annual rate lower than in the previous period: €157.1 million/year between 2021 and 2024, compared to €202.4 million/year between 2012 and 2020.

"The GDP is growing at a rate four times higher, while debt is growing at a rate 25% lower," stated the Regional Secretary.