The Angra do Heroísmo Chamber of Commerce (CCAH) warns of the risk of the region having a “disastrous economic downturn.”
“There is a clear risk and danger of the region, and the country, falling into deflation and a disastrous economic downturn. Since the start of this quarter, there has clearly been a drop in turnover compared to the same quarter last year, which will have direct repercussions and consequences for wealth creation and job creation,” the business association said in a press release.
The warnings follow a meeting of the Angra do Heroísmo Chamber of Commerce’s trade committee, called to analyze the market situation and the current constraints in the sector.
The entrepreneurs expressed concern about the increase in energy costs, warning of the “lack of compensatory measures to deal with the loss of profitability and competitiveness of companies.”
“In a region with a very strong presence of renewable energies and which could be a world example of energy sustainability, it is unacceptable that the prices charged by a company with a majority public capital remain at the current values and cause such serious constraints for companies and families,” they said.

The business association representing the islands of Terceira, São Jorge, and Graciosa also revealed the problems related to maritime transport continue: “Companies and consumers continue to be affected by the disruptive way in which companies operating in the market operate, as well as by the delay of material and goods due to problems related to supply chains and the lack of containers on the world market.” The entrepreneurs also highlighted “the importance of tourist flows and a reduction in seasonality for creating and maintaining jobs.”
Another warning from the Angra do Heroísmo Chamber of Commerce is the “importance of maintaining incentives to increase the average wage.” Entrepreneurs claim they are essential so that companies “can have some support for raising average wages and not cause situations of injustice and inequality between employees, given the increase in the minimum wage in 2024”.
The business association also expressed “enormous concern about the level of growth of the parallel economy and the perverse effects caused by the permanent evasion of tax and contributory responsibilities when they enter into unfair competition with companies and entrepreneurs who comply.”
“Greater supervision is required, especially when the actors and places where the illegal economy is practiced frequently and in plain sight are common knowledge,” stressed the business association.

in Diário Insular, José Lourenço-director

Translated to English as a community outreach program from the Portuguese Beyond Borders Institute (PBBI) and the Modern and Classical Languages and Cultures Department (MCLL) as part of Bruma Publication and ADMA (Azores-Diaspora Media Alliance)  at California State University, Fresno.