Issue No. 1 of Year IV of the Journal of Public Finance and Tax Law

The beginning of the fourth year of publication of the Journal coincides with the entry into force of the conditionality agreement concerning economic policy, associated with the aid being channelled through the International Monetary Fund and the European Union.

With the latitude for national financial decision making having been drastically reduced by the agreement, the main objective of which being to ensure balance and sustainability within public finances, the next few years appear to be especially difficult for the Portuguese.

The challenge facing us is to utilise our intelligence, courage and serenity to find the space necessary so as not to compromise the future whilst at the same time ensuring a decent life worth living for our community.

In each issue of the Journal, we are determined to ensure pluralistic, expert and committed debate, to open paths, as well as to ensure accuracy in reflecting and making proposals in the area of public finance and taxation.

Eduardo Paz Ferreira
Director of the Journal of Public Finance and Tax Law