Privatisation revenues in Portugal expected to total 100 million euros in 2014

20 February 2014

Revenues from privatisations in Portugal are expected to total 100 million euros in 2014, the last year in which the State is expected to raise cash by selling public companies, according to the report of the 10th review of the country’s bailout programme.

Cited by Portuguese newspaper Diário Económico, the report published by the International Monetary Fund (IMF) said that the privatisation of airline TAP – Air Portugal and rail cargo company CP Carga had yet to be conducted but that the privatisation programme was well on its way. As examples, the IMF noted the success of the privatisation of postal company CTT – Correios de Portugal and the sale of Empresa Geral de Fomento scheduled for May.

In the document the IMF calls for TAP to be sold, although it mentioned no dates and for CP Carga it expects that privatisation to be re-launched in June.

The document also noted the public transport systems in Lisbon and Porto, “with five concessions to be launched in March,” and added that the concession of ports and the sale of real estate assets would be carried out by the end of September.

“The Portuguese government considers that the privatisation programme, which was a tool for opening up the Portuguese economy and attracting new investments, has already exceeded its initial financial objectives,” the report said. (macauhub)