Madeira to receive 80 million euros in budget compensation

Miguel Albuquerque, President of the Government of Madeira, announced that the region will receive approximately 80 million euros to compensate for the loss of funds from the cohesion fund. This follows a meeting between Albuquerque and Prime Minister Luís Montenegro to negotiate matters regarding the 2027 State Budget.

Albuquerque noted that under current regional finance laws, Madeira is ineligible for the cohesion fund because it is incorrectly indexed to GDP growth. He emphasized the need for compensation due to the costs of insularity, a view shared by the Prime Minister. Additionally, discussions covered the rapid approval of a new regime for the Madeira International Business Centre and the provision of a second helicopter for firefighting operations.