Portugal spends 800 million euros on REN and Águas de Portugal stakes

The Portuguese state has spent approximately 800 million euros on recent strategic acquisitions. This includes 390 million euros to purchase a 13.7% stake in the energy company REN from a holding company owned by Amâncio Ortega, and 375 million euros to increase its stake in Águas de Portugal from 81% to 100% by acquiring the remaining 19% held by Caixa Geral de Depósito.

This total expenditure is comparable to the cost of recent government fiscal measures, which include an extraordinary supplement for pensioners and a reduction in IRS income tax for up to the sixth bracket. While the state acquisitions involve long-term infrastructure assets, the fiscal measures aim to provide immediate relief to citizens, though critics have questioned the long-term sustainability of the social security system in light of these expenditures.