Finance Minister Fernando Medina summed up that Portugal’s public debt was below 100%, the best figure since 2009.
“Thanks to this result, we left the group of countries in Europe with the highest level of debt. Our public debt is lower than that of Greece, Italy, France, Spain and Belgium,” Medina said.
Fernando Medina also stated that “reducing the public debt gives the country freedom and allows it to redirect resources from abroad” and from the country’s creditors to the Portuguese.
“We’ve regained a position we haven’t had for 14 years,” he added.
The achieved result – 98.7% of GDP – was achieved, according to the minister, thanks to European assistance, public investment and the strengthening of the National Health and Social Security Service.
“We are in a safer position” and this result will “allow” interest to be freed up to support the country’s public policies,” the finance minister said.
“The country’s debt is less than in real terms last year. Reducing public debt saves interest for the state, families and companies,” he concluded.
Author: morning Post This Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.