(MENAFN) The volume of moratorium by Portugal's private firms has amounted around 30 billion euros (USD36 billion), because of the economic catastrophe attributable to the coronavirus pandemic, stated the Business Confederation of Portugal (CIP) on Sunday, Apr, 18.
CIP President Antonio Saraiva said to Radio Antena 1 that around "25 percent to 30 percent of that amount is at risk of not being paid" back to banks.
The business leader asked the administration to "help those companies that clearly will not be able to honor this commitment until Sept. 23," the due date for continuing loan payments.
Portugal's administration made a decree in March last year, permitting people not to pay their debts with banks as a method to help families and firms impacted by the economic catastrophe.
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