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Portugal's insolent growth

An example for Brussels

It is not often talked about, but it is worth mentioning. From a very critical economic situation after the 2008 crisis. We are witnessing a discreet but remarkable recovery by many observers.
A turnaround due to political choices that revitalize a country that was once considered bloodless.
An improbable recovery is taking shape there with encouraging signs. This can be seen as a slap in the face to Merkel's and Brussels' cult of austerity, thanks to measures that focus on purchasing power.

 " ...the minimum wage was increased in 2016 and again in 2017. In parallel to this we have seen a decrease in employer contributions from 23 to 22%. Finally, the government has not skimped on the plan to boost purchasing power: increase in pensions and family allowances, strengthening of labor law, lower taxes for the lowest salaries, a net halt to privatizations ... 

Portugal's growth rate exceeded Germany's in 2015-2016 and will probably do so in 2017. If trade surpluses still worry Brussels, Germany today is wondering.

To conclude, Portugal has realized that there is no point in trying to compete with low-cost Eastern European countries. So we have moved upmarket, in industry and in tourism. This is something France should learn from: moving the country upmarket and stimulating demand. In conjunction with a simple reduction in the cost of doing business...

Portugal, which has come a long way, is leading the way.

An anti-austerity policy that is working, despite the fact that the situation is still not very good.

Portugal has demonstrated over the past two years that a policy - the opposite of austerity policies. And therefore based on a recovery through demand and the improvement of social protections - could work. This was already confirmed by the IMF in 2016. By announcing about Greece that "austerity was not working….

We're cleaning up.

The years of nightmare are over for a country that was in a quasi war economy. Some cases seem forgotten.

Of course, the patient is not yet cured, but the recovery is well underway, with a growth rate that makes neighboring countries dream.
An example for France in many ways:
The end of the austerity policy, which has led to a economic miracle without tourism, flourishing, becoming the determining element.

...Portugal is finally free of the shackles of austerity policy, according to Economy Minister Manuel Caldeira Cabral. By reassuring citizens that their pensions and benefits will not be cut. And by allowing wages to rise, the government has won back the confidence of businesses and investors alike. In the last quarter. Investment increased by 10 %. Exports rose by 9 %, higher than in the Netherlands and Germany. The revival of an industry left for dead..."



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