Alvaro New played up to now the functions of chief economist in the office of the minister of Finance
The Ministry of Finance will be reinforced with a new secretary of State, Álvaro Novo, which will be in the folder of the Treasury, according to a note placed today on the website of the Presidency of the Republic.
Alvaro Novo, which until now was then the acting chief economist in the office of the minister of Finance, Mário Centeno, will take possession next Monday, in the Palace of Belém, as the secretary of State of the Treasury.
up to now responsible for the area of the Treasure, Ricardo Mourinho Félix, will also take possession, now in the position of Assistant secretary of State and of Finance, refers to the note from the Presidency of the Republic.
The team of Finance is composed of the minister Mário Centeno and by five secretaries of State.
The new team of the minister Mário Centeno shall be constituted by Ricardo Mourinho Félix (Assistant secretary of State and of Finance), Fernando Rocha Andrade (State secretary for Tax Affairs), John Leo (secretary of State for the Budget), Carolina Screwed (secretary of State for Administration and Public Employment) and Alvaro Novo (secretary of State of the Treasury).
“In the wake of the proposals of the Prime minister, the President of the Republic resigned the Master Ricardo Emanuel Martins Mourinho Félix of the functions of the Deputy Secretary of State, the Treasury and Finance, most having named the same for the functions of the Deputy Secretary of State and of Finance, and also named the Doctor Álvaro António da Costa New to the functions of the Secretary of State of the Treasury. The possession of the two Secretaries of State is scheduled for next Monday, February 6, by 15h30, at the Palácio de Belém”, refers to the note placed today on the website of the Presidency of the Republic.
Strategy for the business sector of the State
The Ministry of Finance justified the entry of a new secretary of State for his team with the need to intensify the implementation of the strategy for the business sector of the State envisaged in the Programme of the Government.
Source from the Ministry of Finance told the Lusa news agency that “the increase of the efficiency of the business sector of the State will lead to the intensification of the implementation of the strategy outlined in the Programme of the Government for this sector”, in particular in the implementation of “measures that will lead to a more efficient use of the State’s heritage”.
“In the year 2017 it is essential to complete the stabilization of the financial system, intensify the work with the participants in the financial markets and rating agencies the financial, but also with the European Commission,” said the Government source to Lusa.
according To the Ministry of Finance, “and the consequent developments at the level of consolidation of public finances, the capitalization of the financial sector and the implementation of a comprehensive solution to the non-performing loans are important to improve the financing conditions of firms”.
chief economist to the secretary of State
The new secretary of State of the Treasury, Álvaro Novo, a degree in Economics from the University of Coimbra, was from 3 December 2015 chief economist of the office of the Minister of Finance, Mário Centeno. He started working with Rye about a week after the inauguration of the current Government, the 26 of November 2015.
in Addition to the degree, Álvaro Novo, who was born in Liverpool in 1972 and a phd in Economics and master in Applied Statistics from the University of Illinois, the United States, and a master in Economics for the University of Southern Illinois, United States.
Alvaro New is technical adviser to the Bank of Portugal since 2001 and associate professor-convidado at ISEG (Instituto Superior de Economia e Gestão – University of Lisbon) and of the New University.