April 13. 2024. 6:30

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Portuguese government approves Ukraine compensation scheme for fisheries

The Portuguese government has approved the regulation on support to compensate operators in the fisheries and aquaculture sector for the production costs resulting from the war in Ukraine, with a total allocation of €23.5 million.

“The support provided for in this regulation is intended to compensate operators in the fisheries sector, aquaculture and the processing and marketing of fishery and aquaculture products for additional production costs incurred as a result of Russia’s military aggression against Ukraine,” reads a decree published on Monday in the Diário da República, the government’s official gazette.

The support in question covers additional production costs incurred between 1 July and 31 December 2022 for fishing operators and between 24 February and 31 December of the same year for aquaculture and processing operators.

The total allocation is €23.5 million, co-financed by the European Maritime and Fisheries Fund (EMFF).

Of this amount, €8 million are earmarked for fisheries, €6 million for aquaculture and €9.5 million for processing and marketing of fisheries and aquaculture products.

As the decree stressed, this distribution is only indicative and may still be adjusted by decision of the manager.

The support, which takes the form of a non-refundable grant, corresponds to fixed amounts, for the fleet and aquaculture, based on a fixed rate of 8.6%, which is applied to the average daily value of production costs, recorded in 2019 and multiplied by the number of days of the compensation period.

These also assume the flat rate modality, the amount is also calculated based on a rate of 8.6%, applied to the average daily cost of production costs, ascertained in 2019, and “measured by the cost of raw materials sold and consumed, multiplied by the number of days of the compensation period”.

(Pedro Emídio/Lusa.pt)