Categories: Economy

Growth in Portugal up 5% in 2021

&amp;NewLine;<p>Portugal&amp;rsquo&amp;semi;s Minister of State&amp;comma; for the Economy and Digital Transition has indicated that growth in Portugal could rise by 5&amp;&amp;percnt; by the end of the year&amp;comma; following strong third-quarter&amp;period results;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<h2 class&equals;"wp-block-heading">Growth in Portugal to rise by 5 per cent by 2021<&sol;h2>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>I think that economic growth will be closer to 5 per cent than to 4 per cent," said Pedro Siza Vieira in an interview on the French TV show "The economic growth will be closer to 5 per cent than to 4 per cent. <a href&equals;"https&colon;&sol;&sol;www&period;rtp&period;pt&sol;play&sol;p8240&sol;tudo-e-economia" target&equals;"&lowbar;blank" rel&equals;"noreferrer noopener">Tudo é Economia<&sol;a> on RTP3 Tuesday evening&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>Third-quarter results were in line with expectations&amp;comma; "although July did not see such rigorous growth&amp;comma; due to the pandemic situation that arose"&amp;comma; he felt&amp;period; On the other hand, August exceeded all expectations in virtually all business sectors&amp;comma; in trade&amp;comma; catering and hotels&amp;period; <&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>For Pedro Siza Vieira, the pace of economic growth is meeting and perhaps even exceeding the government's expectations&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>"We are confident that&amp;comma; from the point of view of economic growth over the&amp;rsquo&amp;semi;year&amp;comma; we will exceed what was forecast&amp;period; The&amp;rsquo&amp;semi;economy is performing not only better than projected&amp;comma; but also better than most observers estimated a few months ago"&amp;comma; he said&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>The Minister recalled that "there is a very strict recovery in the economy"&amp;comma; as demand is recovering very quickly&amp;comma; while health restrictions have been lifted due to the pandemic&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<div class&equals;"wp-block-image"><figure class&equals;"aligncenter size-large is-resized"><a href&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;produit&sol;retraite-au-portugal-le-guide-2022&sol;"><img src&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;wp-content&sol;uploads&sol;2021&sol;09&sol;couv-2022-642x1024&period;jpg" class&equals;"wp-image-8354" width&equals;"321" height&equals;"512"&sol;><&sol;a><&sol;figure><&sol;div>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<div class&equals;"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex"><&sol;div>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>Last week&amp;comma; Finance Minister João Leão said that the pandemic crisis had so far had an impact of 30 billion&amp;rsquo&amp;semi;euros on Portuguese public debt&amp;comma; adding that it could reach 40 billion&amp;rsquo&amp;semi;euros by next year&amp;period; Also according to the Finance Minister&amp;comma; the private sector also saw its debt increase by&amp;rsquo&amp;semi;around five billion euros last year&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>In an interview on RTP3&amp;comma; the president explained that "the crisis has had a very significant impact on the debt"&amp;comma; in particular on the debt of the&amp;rsquo&amp;semi;State&amp;comma; estimating that the amount will reach "about 35 billion to 40 billion&amp;rsquo&amp;semi;euros" by 2022&amp;period; João Leão pointed out that&amp;rsquo&amp;semi;in 2020&amp;comma; public debt reached 133 &amp;percnt;&amp;comma; which&amp;comma; he estimated&amp;comma; "was a very high debt" for Portugal&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>According to the President of the Republic&amp;comma; the debt reduction trajectory "will be based on the strong economic recovery" and at the same time&amp;comma; "essential in the context of&amp;rsquo&amp;semi;very high debt to give confidence to the stability and financial credibility the country needs"&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>"What is crucial&amp;comma; is to present the debt on a trajectory of production due to the strong growth of the&amp;rsquo&amp;semi;economy&amp;period; This trajectory will give us all the ability to look to the&amp;rsquo&amp;semi;future with optimism&amp;comma; not to look to the&amp;rsquo&amp;semi;future with uncertainty and dark clouds"&amp;comma; he asserted&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>The <a href&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;rendez-vous-dans-les-services-publics-au-portugal&sol;" data-type&equals;"post" data-id&equals;"8327">Portugal<&sol;a> was the fastest-growing country in Europe in the second quarter&amp;comma; the 15&amp;comma;5 &amp;percnt;&amp;period; It&amp;rsquo&amp;semi;is the quarter in which it has seen the most growth since the historical series&amp;period; It&amp;rsquo&amp;semi;is remarkable GDP growth in terms of&amp;rsquo&amp;semi;year and shows that&amp;rsquo&amp;semi;it is confirmed for the third quarter with very positive indicators that exist&amp;period; With economic indicators&amp;comma; namely the&amp;rsquo&amp;semi;evolution of retail sales&amp;comma; ATM payments&amp;period; This shows that&amp;rsquo&amp;semi;there is already a great recovery in the country&amp;period;<&sol;p>&amp;NewLine;

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