Economy Minister António Costa Silva on Tuesday celebrated the “outstanding” growth in gross domestic product (GDP) in 2022, noting that this year will bring “challenges and hardships” but the economy could face this “much more confidence.”
“I think the results are wonderful. This is the highest economic growth since 1987, which gives great confidence in the future,” António Costa Silva said in a statement to Lusa.
The Portuguese economy grew by 6.7% in 2022, the “highest since 1987”, according to a quick estimate released by the National Institute of Statistics (INE) on Tuesday.
Gross domestic product (GDP) growth of 6.7% in 2022 is one-tenth below the government’s forecast, as Finance Minister Fernando Medina said in late December that he was convinced that Portugal would complete “2022”. with growth [da economia] about 6.8%”.
However, this figure is higher than the 6.5% provided for in the State Budget for 2023 (OE2023), which was presented to Parliament in October last year.
Costa Silva confirmed that the Portuguese economy is “resilient and responsive”, recalling the ministry’s direct contacts with all sectors that pointed to these results.
“In tourism, we are going to outperform 2019 with 22 billion euros, but there will be outstanding results in other sectors such as metalworking, footwear and textiles,” he stressed.
Thus, the economy could face 2023 “with much more confidence.”
This was also supported by lower inflation, falling gas prices and a more favorable external environment.
However, in 2023 the economy “may slow down” due to the expected “challenges and difficulties”.
Asked about projections for the current year, Costa Silva said the government is reviewing the growth estimates included in the state budget.
“I think that, probably, with these very positive developments, we will revise these estimates and, if they are higher, we will save the route. [de crescimento]”, the Minister of Economy defended, also highlighting the “positive effect” of measures taken by the Government in 2022, such as a package of assistance to families and companies.
Author: Portuguese
Source: CM Jornal
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