COVID-19 | Daily Update

Wednesday, April 27th | COVID-19 Daily Update

CURRENT OUTLOOK

According to the Portuguese General Directorate of Health (DGS) daily epidemiological bulletin published today, the number of recoveries increased from 1.329 to 1.357 cases (+2.1%). 

There were 25 more deaths and 163 new cases of COVID-19 infection in Portugal in the last 24 hours.

The number of deaths rose from 903 to 928 (+2.7) and the total number of confirmed cases increased from 23.864 to 24.027 (+0.7).

 

PANDEMIC IN PORTUGAL 

This will be the week for all the calls, with the final decision on the state of emergency to be taken. The Portuguese authorities are considering the declaration of the state of calamity (one step lower) if and when after the state of emergency is lifted.

The Government’s strategy is based on opening up the economy and the society in a progressive and monitored way, controlling households, and ensuring that there is enough protection material. Besides, the Government continues to strengthen the NHS, since it points out that in the autumn a second wave of the COVID-19 pandemic will almost surely arise.

Face-to-face classes for 11th and 12th-grade students should resume on May 18th and daycare centres and businesses, in general, are set to reopen on June 1st.

Yesterday, the Minister of Health warned that the rate of contagion of the new coronavirus is still above 1. Marta Temido stressed that the disease is not controlled and that all care is still needed. 

The new coronavirus caused an excess of mortality in Portugal, which did not exceed, however, some higher than expected death peaks caused by the common flu and the intense cold of recent winters. 

According to the Euromomo project, while in Portugal the curve had a moderate increase in March and April, in other European countries it reached extremely high peaks. 

The Financial Times reports that deaths from COVID-19 maybe 60% above official statistics. Portugal has the second smallest deviation (10%) at the European level, only surpassed by Denmark.

The closure of borders because of the pandemic of COVID-19 has resurrected the old clandestine routes of emigration and contraband in Alto Minho.

 

PANDEMIC IN EUROPE AND THE WORLD

As of today, it is mandatory to wear a mask in public in Germany, at a time when the country has fewer deaths and cases.

Spain counted, in the last 24 hours, 331 new deaths by COVID-19, 43 more than yesterday, and the number of infected people rose to 209.465, an increase of 1.831 cases, although the evolution rate is now decelerating. Nearly 90 thousand people will participate in the serological survey that starts in the country today.

The Italian Government will allow visits to family members and open parks and public gardens from May 4th, when the gradual release of the confinement begins.

British Prime Minister Boris Johnson returned to work today and urged citizens to “contain impatience” by advocating maintaining the confinement in place to prevent a second and probably deadlier wave of infections.

The number of people infected with the new coronavirus has already exceeded 2.9 million and has caused the death of more than 200.000 people worldwide, according to an AFP (French news agency) report. 

In Africa, the number of deaths has risen to 1.423 in the past few hours, with 31.933 cases of the disease reported in 52 countries. 

The USA has recorded 1.330 deaths in the past 24 hours. In total, 54.841 people died in the country. The number of infected people rose to almost 968.000, with about 107.000 people being reported as recovered. 

China has recorded three cases of infection in the past 24 hours. The new case of local contagion was detected in Heilongjiang province, in northeastern China, where there has recently been an increase in infections caused by Chinese citizens coming from Russia. There are no longer patients with COVID-19 in hospitals in Wuhan, the Chinese city that was the epicentre of the new coronavirus.

There are eight Portuguese, two of whom are infected with the new coronavirus, on a cruise ship held since January in Nagasaki, Japan. The situation is being monitored by the Portuguese Embassy in Tokyo.

The Prime Minister of New Zealand said that the country won the battle against COVID-19, as there have been few cases of local infections in the country. “We are opening up the economy, but we are not resuming people’s social lives,” warned Jacinda Ardern.

An application developed by the Australian Government for tracking COVID-19 has been downloaded one million times in the first five hours of its launch.

 

MEDICAL PROGRESS

Dozens of pharmaceutical companies are currently racing against the clock to find a vaccine that will stop the spread of the new coronavirus and put an end to the COVID-19 pandemic.  

The first may be ready in a year, but only if the laboratories get it right the first time, which would be a rare case. A special Reuters (news agency) investigation says that only 6% of vaccine candidates are likely to reach the market. 

Scientists at the University of Louisville, USA, believe they have found an experimental cancer drug that is effective in preventing COVID-19 infection of human cells.

 

ECONOMIC IMPACT 

The Portuguese Directorate-General for the State Budget releases today the Budget Execution Summary until last March, which should already reflect the impact of the pandemic caused by COVID-19 on public accounts. 

In the morning, the Prime Minister and the Minister of Economy visited companies that resumed their work and their “new normal”. And in the afternoon, the Secretary of State for Tourism participates in the meeting of EU tourism ministers to outline a common strategy to deal with the outbreak.

About 514 million euros is the amount that 1.400 companies want the Government to pay to cover their debts to suppliers, which are now pending for more than 90 days.

The majority of the companies (87%) are in favour of reducing restrictions and resuming activity, according to a survey by the Portuguese Chamber of Commerce and Industry. Another survey, by DECO Proteste (Consumers’ Rights Association), points out that almost 60% of the active population suffers now from reduced income.

Municipalities may use the Municipal Social Fund to finance expenses with equipment, goods, and services to combat the effects of the COVID-19 pandemic.

Social Security will cross-check data with the Tax Authorities to verify if there are billing gaps in the usually called “green receipts” (issued by independent workers).

Catering associations advocate for drastic measures to reopen restaurants. They also accuse the Government of wanting to take workers off lay-offs so that they can assume wages.  

The sectors of hotels, restaurants and commerce are those where immigrants in Portugal are most feeling the impact of COVID-19 in the work environment, indicates the High Commission for Migration. Autoeuropa (VW plant) resumed production today, while TAP decided to extend the lay-off period until May 31st. AICEP (Agency for the External Investment in Portugal) guarantees that since the beginning of March, three investments have already been raised for Portugal in the service area, which will create 250 jobs.

The Bank of Japan today decided to expand its debt purchase programs, to mitigate the economic impact of the pandemic.

The profits of the main industrial companies in China registered a year-on-year decrease of 36.7%, in the first three months of the year, due to the impact of the outbreak of the new coronavirus.

 

FINANCIAL MARKETS

The Lisbon Stock Exchange was still positive today, maintaining the trend of openness and that of European counterparts, with the Portuguese Stock Index PSI-20 advancing 0.15%. 

Oil prices are again under strong pressure, after the excess supply of the raw material in the market and the almost “overflow” of global storage limits. The barrel of crude slips 13% in New York, trading again below $ 15, while the London Brent falls 5%.