Economy 52,844 Posted August 14, 2018 Share Posted August 14, 2018 https://www.google.ca/amp/s/mobile.reuters.com/article/amp/idUSKBN1HK2RE Portugal has not only been growing steadily after the crisis with unemployment falling from over 17% to less than 8% now, but financially it has also seen a complete turnaround Interest rates since last year have fallen sharply from over 7% to just 1.8% now as investors now see the Nation as stable and low risk of default The deficit next year will fall to 0.2% of GDP (essentially balanced) and go to a surplus of 0.7% of GDP by 2020 increasing to 1.3% the year after The debt burden at 122% of GDP in the meantime remains high and a source of risk should the economy destabilize. The debt is expected to fall to 102% of GDP by 2022 a fall of 20 percentage points Link to post Share on other sites More sharing options...
Economy 52,844 Posted August 14, 2018 Author Share Posted August 14, 2018 Italy, Spain, Turkey and Greece ought to learn a few things Link to post Share on other sites More sharing options...
JazzGa 14,652 Posted August 14, 2018 Share Posted August 14, 2018 How did they do it? My old cat is a tough man, but i cant deny the way he bites my hand and he stabs me, he grabs me by my heart <3 Link to post Share on other sites More sharing options...
Economy 52,844 Posted August 14, 2018 Author Share Posted August 14, 2018 6 minutes ago, Satans Ex Wife said: How did they do it? They ended the austerity on stuff like wages and public sector spending the EU demanded so the economy stopped contracting But they has been some restraint. Infrastructure spending has been frozen and there have been reforms in things like the retirement system. The retirement age is now directly tied to life expectancy and does not require government approval to raise it when life expectancy goes up. Besides keeping older people working and paying taxes longer this also offsets lower birth rates. The increase was only 1 year and a few months so far but because Portugal had a high percentage of seniors, even a year and a few months greatly affects the balance of those working and paying taxes vs those who are not Tourism promotion has also been a bright spot in recent years for economic growth 6 minutes ago, Satans Ex Wife said: Link to post Share on other sites More sharing options...
Fame IV 4,426 Posted August 14, 2018 Share Posted August 14, 2018 Our socialist government has been investing in tourism, which is a great thing for the country and creates jobs. I am very proud. :) A Star is Born ⭐ Link to post Share on other sites More sharing options...
Economy 52,844 Posted August 14, 2018 Author Share Posted August 14, 2018 9 minutes ago, Fame IV said: Our socialist government has been investing in tourism, which is a great thing for the country and creates jobs. I am very proud. Ya Portugal has done a complete turn around Portugal has to be careful to continue showing restraint tho. Some Nations when finances improve they go spend happy again Portugal will take years to bring that high debt load back down to a more manageable level so surpluses to pay down debt and economic growth to make debt size smaller relative to size of economy are essential Because Portugal's finances are improving each year but if another recession struck the Country is still too broke to respond with much stimulus so it is still in a vulnerable position Link to post Share on other sites More sharing options...
Lucas 31,104 Posted August 14, 2018 Share Posted August 14, 2018 edit : can someone delete my post ugh I need to use my brain more Link to post Share on other sites More sharing options...
MyQueen 2,409 Posted August 14, 2018 Share Posted August 14, 2018 Now that live there Link to post Share on other sites More sharing options...
Economy 52,844 Posted August 14, 2018 Author Share Posted August 14, 2018 22 minutes ago, GagaInTheZone said: edit : can someone delete my post ugh I need to use my brain more I'm curious now to know what u said Link to post Share on other sites More sharing options...
Chuckles 2,549 Posted August 18, 2018 Share Posted August 18, 2018 On 8/14/2018 at 12:57 PM, Economy said: I'm curious now to know what u said me too haha Link to post Share on other sites More sharing options...
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