Ministry of Finance justified the decision with the need to strengthen the team
The Government, through the Ministry of Finance, starts with an element from the next Monday, the day that Álvaro New team will take office as secretary of State of the Treasury after the official ceremony in Bethlehem. This officer, who had taken in December 2015 for the post of chief economist in the office of the minister of Finance, Mário Centeno will stay with the folder of the State Business Sector (ESS) and public heritage. Rye and New crossed paths at the Bank of Portugal, where the new ruler, 44, is the technical consultant since 2001.
Until now, the business sector and the public assets were with Ricardo Mourinho Félix, who was already the number two of Rye, and that, from Monday, happens to be the Deputy secretary of State and of Finance (instead of Assistant, Treasury and Finance). In your sphere remain folders as the General Box of Deposits (corporate sector financial), and the IGCP, the institute that manages the public debt.
Alvaro Novo, in the photo on the right, was in the team of Rye as chief economist DR
according To a note from the Ministry of Finance, the separation of the ESS and heritage of the State is justified by the need “to ensure an adequate allocation of resources”, allowing the execution of some goals and the concentration of Mourinho Félix in areas such as banking and public debt. This is a decisive year for issues in the financial area, with the process of the recapitalisation of CGD and the mechanism under study to relieve the banks of non-performing loans. But the reinforcement of the team of Rye, that now shall be five secretaries of State, is also a sign that the Government wants to intensify contacts in the outside front.
This year, say the Finances, “it is essential to complete the stabilization of the financial system, intensify the work with the participants in the financial markets and rating agencies-financial, such as Fitch, DBRS, S&P and Moody’s, but also “with the European Commission”. “The resulting 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 companies”, sustains the ministry led by Rye.
“The need for greater coordination of the various skills related to these objectives, will result in an increase of the responsibilities assigned to the current Deputy secretary of State of Treasury and Finance, Dr. Ricardo Mourinho Félix, which will be devoted primarily to these objectives,” adds the same note. On the other hand, refers to “increasing the efficiency” of the ESS and of the heritage of the State requires “intensification” of that est�� outlined in the Government’s Program.
If Alvaro New if debut now as ruler, the corridors of the Ministry in the Terreiro do Paço are not unknown, because since December 2015 is councillor of Rye, as its chief economist, following in this the quality of the minister himself and Mourinho Félix in meetings of the Eurogroup.
Alvaro New, natural Estarreja, graduated in Economics at the University of Coimbra (1995), a master’s degree in Applied Statistics at the University of Illinois, where in 2001 the phd in Economics. It is precisely in 2001 that comes to the Bank of Portugal, where Centeno had started in the previous year. There it crosses with the current minister, with whom you share areas of research – labor market and microeconomics – and with whom he worked in the Department of Studies, signing it dozens of articles and collaborating even in the essay The Work, A View of the Market, published in 2013 by the Foundation Francisco Manuel dos Santos.
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In your resume, New she is associate professor-convidado at ISEG (University of Lisbon) and the Information Management School, in the New.
Centeno will now have their team of five secretaries of State, equaling the number of the rulers of the staff of the previous minister of Finance of Passos Coelho, Maria Luís Albuquerque. With the ascension of Alvaro New the secretary of State, lack to fill the position of economist-in-chief of Rye, something that the Finances say it will be done “in due time”.
the Accounts given, of the six rulers of the ministry, half came directly from the BdP (Centeno, Mourinho Félix and Alvaro Novo). Only one is a woman (Carolina Screwed, secretary of State for Administration and Public Employment). Screwed, as the two remaining secretaries of State (Fernando Rocha Andrade, Fiscal Affairs, and João Leão, who is responsible for the Budget) remain in the same functions.