COVID-19 | Daily Update

Saturday, June 13th | COVID-19 Daily Update

CURRENT OUTLOOK 

The number of people infected by COVID-19 in Portugal rose to 36,463, an additional 283 in the last 24 hours, according to the daily epidemiological report released by the Portuguese General Directorate of Health (DGS). 

The data also reveal the occurrence of seven deaths from yesterday to today, bringing the total to 1,512 fatalities of the new coronavirus in the country.

 

PANDEMIC IN PORTUGAL

In the middle of a pandemic, the State increased its debt to suppliers, in opposition to a promise made by the Government on March 13th. Budget execution shows that the debt stock grew by 64 million euros between March and April, totalling 1,624 million.

The Government extended until the end of the month the ban on flights to and from countries outside the EU, as part of the measures to contain the spread of COVID-19, and the National Health Institute Ricardo Jorge announced that about half of the 2,072 participants have already been recruited for the COVID-19 National Serological Survey. This population-based survey will allow estimating the fraction of subclinical and asymptomatic infections and monitoring the evolution of the distribution of antibodies in Portugal over time.

Meanwhile, the country is finalizing preparations for a flight scheduled for today, in which 184 Portuguese and 183 other European citizens will be brought back from Venezuela, where they were held due to quarantine.

Spanish officials admitted the contradictory announcements and speeches made by some of their leaders regarding the date for the reopening of the common land border with Portugal. The explanation has to do with the internal peculiarities of the Spanish political life, namely with the deconfinement at various speeds carried out in the neighbouring country.

In a letter sent to the Minister of Health, among other entities, the secretary-general of the Independent Doctors Union states that the epidemic is uncontrolled in the Lisbon region. The union says that Portugal is the second country in the EU with the highest number of new cases in the last 14 days, with more than 90% registered in the region of Lisbon and the Tagus Valley. 

The president of the Portuguese Guild of Medical Doctors considers the financial reinforcement announced for Health insufficient adding it is urgent to resume the previously programmed activity, which had a 50% drop in the critical phase of the response to COVID-19. 

DGS started to allow the use of showers in gyms and other spaces dedicated to physical activity.

 

PANDEMIC IN EUROPE AND THE WORLD

France will reopen the external borders to the Schengen Area on July 1st, following the European Community recommendation, although, according to the French Government, it will do so progressively, depending on the country’s health situation.

Brazil overtook the United Kingdom and became the second country in the world with the highest total number of deaths by COVID-19, after registering an additional 909 deaths in the last 24 hours.  

The World Health Organization (WHO) expressed concern about Brazil’s ability to manage new cases but indicated that the health system is, nevertheless, coping with the situation. 

The USA, on the other hand, recorded 839 deaths, bringing the total to 114,613 deaths since the beginning of the pandemic, with the country continuing to register around 20 thousand new cases daily. 

Regarding Mexico, it registers a total of 129,184 confirmed infections, which represents an increase of 5,222.  

At the same time, Venezuela has extended, until July 13th, the state of exception in force in the country since March, which allows the Government to take “drastic decisions” to combat the pandemic.

Beijing authorities have closed the city’s largest wholesale food market, as well as ordered the urgent confinement of 11 Beijing neighbourhoods, fearing a resurgence of the pandemic in the country. 

Africa today surpassed the 6,000 fatalities, registering now 6,040, meaning 284 more than yesterday, and counting over 225 thousand infections.

Worldwide, more than 422 thousand people have died infected with the new coronavirus. In total, according to the French news agency AFP, 422,851 people did not resist the disease.

 

MEDICAL PROGRESS 

Pharmaceutical company Johnson & Johnson announced that it had anticipated the start of human testing of a vaccine, initially scheduled for September. Testing should now begin in the second half of July. 

The experimental vaccine of the Moderna biotechnology company, co-financed by the US Government, will enter the third and final phase of clinical trials in July with the participation of 30,000 volunteers. 

While an effective vaccine is being sought, some experts consider the polio vaccine can provide temporary protection against the new coronavirus.

 

ECONOMIC IMPACT

Portugal’s wealth, as measured by GDP, is expected to decline this year to lower than in 2018, based on data from the Supplementary State Budget. GDP is expected to be in the range of € 198 billion to € 200 billion.

The President of the Republic, Marcelo Rebelo de Sousa, enacted yesterday the law that extends the moratorium on bank credits of families, companies, and private institutions of social solidarity until the end of March 2021.

The average value of housing rents in Portugal fell in May, comparing to April when the effects and impact of the pandemic were already being fully felt.

The pandemic caused a sharp rise in the number of unemployed enrolled in employment centres in Portugal last April, but the variations were quite different from region to region. For example, the changes in April 2020, compared to the same month last year, fluctuated between the 334.6% growth recorded in Albufeira (Algarve) and the 22.8% decrease in Vila Nova de Paiva (Viseu District).

SEF (Border Control) reveals that Chinese investment captured through gold visas fell 32% in the first five months of the year, compared to the same period in 2019, to 65.5 million euros.

The British Government intends to dilute customs control plans for goods coming from the EU to ease the pressure on companies affected by the pandemic. 

The economy from Cape Verde is expected to lose 223 million euros this year due to the pandemic, equivalent to more than 11% of the country’s GDP estimated for 2020.

At the same time, millions of children are at risk of being pushed into child labour due to the crisis caused by the pandemic. Unicef and the International Labor Organization have warned of rising unemployment, which leads to lower living standards and impacts on health and social protection systems.

 

FINANCIAL MARKETS

The national stock market managed to keep up with the recovery of European markets, thus putting an end to the negative series of six sessions trading in the red zone, in which it fell more than 6% to May 29th lows. 

Thus, the Portuguese Stock Index PSI-20 rose 0.09% to 4,359.99 points, ending far from the session highs and thus recovering only a small part of the almost 3% fall suffered the day before.