Categories: Economy

Portugal's insolent growth

<h4 style="text-align&colon; center&semi;">An example for Brussels</h4>&NewLine;We don't hear much about it, but the fact deserves to be highlighted&period; From a very critical economic situation following the 2008 crisis&period; We are witnessing a discreet but remarkable upturn noted by many observers&period; &NewLine;A turnaround due to political choices that are breathing new life into a country once considered bloodless&period; &NewLine;An improbable recovery is taking shape over there, with some encouraging signs&period; Which can be seen as a slap in the face to Merkel and Brussels&comma; cult of austerity, thanks to measures to boost purchasing power&period;&NewLine; "&&num;8230&semi;the minimum wage was increased in 2016 and again in 2017&period; In parallel to this, we saw a reduction in employer contributions from 23 to 22&percnt;&period; Finally&comma; the government did not&rsquo&semi;has not skimped on the plan to boost purchasing power&colon; increase pensions and family allowances&comma; strengthen labor law&comma; lower taxes for the lowest salaries&comma; put a stop to privatizations&&num;8230&semi; &NewLine;<blockquote>Portugal's growth rate exceeded Germany's in 2015-2016 and will probably do so in 2017&period; If trade surpluses still worry Brussels&comma; Germany today is&rsquo&semi;questioning&period;</blockquote>&NewLine;To conclude, Portugal has realized that there is no point in trying to compete with low-cost Eastern European countries; So&comma; we've moved upmarket&comma; in industry and tourism&period; Something France should learn from&colon; the country's move upmarket and policies to stimulate demand&period; In conjunction with a simple lowering of business costs&&num;8230&semi;&NewLine;<h5>Portugal&comma; which has come a long way&comma; is setting the&semi;example&period;</h5>&NewLine;<blockquote>An anti-austerity policy that's working, despite the situation still being in the doldrums&period;</blockquote>&NewLine;Over the past 2 years, Portugal has demonstrated that a policy - the opposite of austerity policies and therefore based on demand-led recovery and improved social protection - can work&period; What the IMF had already confirmed in 2016&period; By announcing about Greece that "austerity was not working" &&num;8230&semi;&period;&NewLine;<h5>Cleaning up&period;</h5>&NewLine;The years of nightmare are over for a country that used to live with a virtual war economy&period;The chain of errors has been neutralized&period; Some cases seem to have been forgotten&period;&NewLine;Admittedly, the patient is not yet completely cured, but recovery is well underway, with a growth rate that is the stuff of dreams for neighbouring countries; &NewLine;An example for France in many ways &colon; &NewLine;The end of the policy of&semi;austerity&comma; that led to a economic miracle without tourism&comma; flourishing&comma; becoming the determining factor&period;&NewLine;" &&num;8230&semi;According to Economy Minister Manuel Caldeira Cabral&comma; Portugal is finally free from the shackles of austerity policy&period; By reassuring citizens that they would no longer suffer cuts to their pensions or allowances&period; And by allowing wages to rise&comma; the government has regained the confidence of businesses and investors alike&period; In the last quarter&period; Investments increased by 10 &percnt;&period; Exports by 9 &percnt;&comma; percentages higher than those of the Netherlands and Germany&period; The revival of an industry left for dead&&num;8230&semi; "&NewLine;<a href="https&colon;//www&period;agoravox&period;fr/tribune-libre/article/le-portugal-se-soigne-201015">source</a>&NewLine;

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