The increase in Euribor rates will limit the maximum amount banks are allowed to lend, and cuts could be around 30% as early as next month, Público reported on Monday. Debt reduction will also particularly affect those with lower incomes or less savings, who, subject to current regulations, will be required to guarantee at least 10% of the purchase price of the property, in addition to transaction costs. .
The duration of contracts, limited by the age of persons at the time of applying for a loan, is another factor that makes it difficult to access new loans. According to Eupago’s modeling, a loan intermediary, a couple aged 30 with a net monthly income of 1,800 euros, without inheritance or other loans, could receive a loan of 226 thousand euros in January last year, payable at the age of 37. . But a rate hike of 2% would mean that the same couple would only be able to fund themselves by 163,500 euros in September – 28% less. If the increase in Euribor reaches 2.5%, a value that can be reached next month, the amount will drop to 154.2 thousand euros.
The reasons? First, the increase in Euribor rates associated with most new home loans in Portugal, as well as the limits imposed by the Bank of Portugal since 2018 (when Euribor rates were negative) to limit the risk of household over-indebtedness. Banco de Portugal should not change the formula for calculating DSTI with a 3% increase, but says it is monitoring the situation. “As a macroprudential body, it monitors macroeconomic and financial developments and will continue to monitor compliance with the recommendation, as well as promote changes to it, always with the aim of improving its effectiveness,” the regulator told the daily newspaper.
Fuel price information is based on calculations that take into account quotations on international markets and other factors taken into account when pricing fuel in Portugal. This is the data that I collect weekly from my sources in the fuel market.
I remind you that despite this price indication, each filling station can set the price it considers appropriate🇧🇷 Only private label gas stations should follow brand guidelines. Dealers and each brand may or may not follow the market leaders. But in my experience they go one after the other. This is the price trend for the coming week.
Abu Dhabi-based Etihad Airways has just resumed crew training on its Airbus A380, showing positive signs that the superjumbo is back in the sky. Like many airlines around the world, Etihad suspended flights with this model after the outbreak of the pandemic in 2020, when the number of passengers fell and the UAE closed its borders.
Last April, the airline announced it was suspending its entire A380 fleet indefinitely to prioritize operations with the Boeing 787 Dreamliner and Airbus A350-1000, which are considered more sustainable and cost-effective models.
As a result, 10 A380s were sent for long-term storage to special bases in France and Spain, where they were supposed to be on a permanent basis, then-CEO Tony Douglas said. came to warn that cannot be reactivated due to their high cost of ownership and the operator’s commitment to protecting the environment.
However, due to rising demand for passenger travel worldwide, the airline plans to bring back some of the giants very soon, according to a tweet from aviation expert Zulkarnain. In the post (below), he says that Etihad has just started training the A380 crew. He reveals that the comeback will take place next year and that the date will be confirmed soon.
We have just been informed that crew training has resumed.
This Wednesday, the labor secretary said the government is trying to ensure that pension increases begin to be paid in January and that differentials restore the amount provided in the formula.
“We expect this to happen as soon as possible,” said the Minister of Labour, Solidarity and Social Security, Ana Méndez Godinho, when asked if pensioners would start receiving the new pension as early as January 2023. a commitment that we have made and today we had the calculations and forecasts presented by INE” according to which the government “will adjust the value to be updated in 2023 as a result of the most recent inflation data,” he said.
According to the minister, from January 2, 2023, pensions of up to 960 euros will be updated by 4.83%, which is basically the value that is the necessary differential to achieve the exact value provided in the formula. [de cálculo]in addition to the already paid half board.
For pensions from 960 euros to six AI, the increase will be 4.49%, and for pensions over six AI, the increase will be 3.89%, Ana Mendez Godinho specified, noting that “the AI itself will be updated by 8.4%”. , becoming 480 euros”. That is, he gave an example, “to a pension of 500 euros there will be an increase of about 24 euros.”
The Minister assured that “pensions are still not cut” and that “a decree will be issued to adjust these differential values to ensure that the sum between the two parts, between the half pension [que já foi paga] and this update that happens in 2023 guarantees exactly the same value [que] will give when applying the formula.
Ana Méndez Godinho spoke in Santarém on the sidelines of the Qualification Centers meeting, which takes place at the National Center for Agricultural Exhibitions and Markets under the motto “Transforming the PRR Program for Qualifications”.
IAS to be updated by 8.4% in 2023
The value of the Social Assistance Index (IAS) will be updated to 8.4% instead of 8% in 2023, increasing to 480.43 euros, the Ministry of Social Affairs announced today.
These adjustments, whether when updating IFRS or pensions, are based on inflation data released today by the National Institute of Statistics (INE), which shows that the average inflation over the past 12 months, excluding housing (which usually serves as a benchmark for IAS and pension updates) was 7.46% in November, accelerating from 6.83% in the previous month.
The Ministry of Labour, Solidarity and Social Protection said in a statement that the IAS – an index used to differentiate the renewal of pensions depending on their monthly value – will have “an increase of 8.4% in 2023, from 443.20 euros to 480.43 Euro. “.
Initially, the Government mentioned that IAS would be updated by 8%, recognizing that the value would be adjusted if the resulting inflation was higher than estimated.