Crisis stymies Algarvian fish farming

This is the conclusion of a report by the Accounts Court (Tribunal de Contas) which referred to the significant number of investors who simply “gave up” plans they had within the sector, particularly in the Algarve.

The report, published this month on the TC website, showed that entrepreneurs gave up due to “obstacles in obtaining the necessary licences”. A lot of this was due to the “global financial crisis that translated into greater difficulty in accessing bank loans”. Thus the goal for 3.200 tons of farmed fish to increase national production in 2010 has remained illusive.