Lisbon, Mar 5 (IANS): Portuguese Prime Minister Antonio Costa on Wednesday announced a credit line to support companies affected by the economic impact of the outbreak of COVID-19, according to media reports.

In the biweekly debate in parliament, the prime minister stressed that his government will continue to monitor the situation, and if necessary, the initial amount will be 100 million euros, the Xinhua news agency reported.

However, the Prime Minister said that "the economic impact for Portuguese companies has been moderate or reduced".

"Significant declines in component supply chains are not expected, not least because China is already resuming its industrial activity," said Costa.

But he admitted that some drop and cancellations have been seen in the tourism, travel and events sector, but added "the impact of which will truly depend on the duration and severity of the epidemic outbreak."

He pledged to safeguard the labor rights of those who, for reasons of public health, cannot or should not appear at their workplaces, saying they will continue to receive their salary in full, "both in the public and private sectors".

In Portugal, five COVID-19 cases have been confirmed so far.