The Minister of Finance said that he is “full of confidence that Portugal will show very strong growth”. “We can’t lose focus now.”
The Portuguese Finance Minister said on Wednesday that “we are fast approaching the end of the tunnel” and responded to the European Commission’s new forecast. The committee pointed out that this year’s growth rate was 3.9%, in any case two tenths less than expected in Brussels three months ago. The government is waiting for 4%.
For João Leão, “recovery is in progress”; the minister said that he is “full of confidence that Portugal will show very strong growth”.
In a report sent by the minister, the minister said: “We cannot lose focus now. We will continue to provide support to the most affected sectors to ensure an inclusive recovery. The resilience of our company and workers is exemplary and rapid. The recovery will prove it.” Go to the newspaper.
For the minister, the economic forecast for the spring of 2021-2022 “is close to the government’s estimate, confirming the credibility of the Portuguese stabilization plan”.
“The European Community expects to grow by 3.9% by 2021 and accelerate to 5.1% by 2022. Over the entire two years, the Portuguese economy will perform better than the euro zone average, allowing Portugal to resume the integration path that it has begun. 2016.”
The official insisted on other views that he believed to be positive. He said: “Despite the extensive and lengthy restrictions in the first quarter, the signs of recovery are already clear” and he is crossing Portugal to connect with Europe again.
“EC expects to grow by 3.9% in 2021 [abaixo da média da zona euro de 4,3%] And accelerate to 5.1% in 2022 [acima da média do euro de 4,4%]. “
Therefore, according to Leon, “in the past two years, the Portuguese economy will perform better than the euro area average, which will allow Portugal to resume the path of convergence that began in 2016”.
The minister said that Brussels believes that “private and public investment will grow strongly” and that Portugal will “reach a level of public investment as a percentage of GDP close to the Eurozone average in 2022”.
“The launch of the Recovery and Resilience Program contributed to this result. The Commission estimates that Portugal’s implementation as a percentage of GDP ranks fourth in the EU.”
For the Minister of Finance, the European Community expects that “the unemployment rate will stabilize at around 6.8%. [da população ativa] It will fall to the level of 2019 (6.5%) in 2021, which is 1.3 percentage points lower than the Eurozone average.
In the stabilization plan carried out in April, the Ministry of Finance (MF) predicted that the unemployment rate in 2021 will be higher than in Brussels: a month ago, the figure was 7.3%.
MF pointed out that Brussels’ accounts stated that “the number of employed people in 2022 will exceed the level before the pandemic”. Terreiro doPaço’s report said: “These estimates confirm the flexibility of the Portuguese labor market and the effectiveness of measures to support companies and protect employment.”