Portugal's Economy Now Booming But Risks Falling Apart

[Economy 53,072]

https://www.google.ca/amp/s/mobile.reuters.com/article/amp/idUSKCN1Q41RR

 

Of all the Countries that fell hard during the Eurozone crisis, Portugal is perhaps the Country that bounced back the best

 

Unemployment fell from 17% to about 7% now, the huge budget deficit is now almost gone, and exports and tourism is fueling the most solid economic growth in 2 decades

 

However in order to fix the budget big cuts were made in public and infrastructure investments and because the Nation is still in debt by 120% of GDP, there still is no room to increase spending without ruining the budget again

 

There are seriously aging parts of infrastructure with a severe need of repair. Recently a train was detailed due to poor maintenance

 

While the Country does not want to risk going back into an unsustainable deficit, and falling apart infrastructure is now posing an almost equal danger to the economy

[Economy 53,072]

Reminds me of the USA with falling apart bridges and rail lines 

 

A big rail network in NY that transports millions of people per day I read needs $30 Billion in repair work 

[RoverLoader 1,254]

Madame X is an economist

[Economy 53,072]

1 hour ago, RoverLoader said:

Madame X is an economist

Madam X better donate them coins and save the economy

 

@iAstroLeo @AlexanderMagno 

[iAstroLeo 14,459]

Well, at least they're fixing the 25th April bridge and didn't let it collapse

Also, they're in talks for a new airport (Lisbon badly needs it tbh :poot:) 

[Economy 53,072]

Just now, iAstroLeo said:

Well, at least they're fixing the 25th April bridge and didn't let it collapse

Also, they're in talks for a new airport (Lisbon badly needs it tbh :poot:) 

I wish Toronto would get a new airport it's getting so crowded

 

Although the Toronto Airport is actually not in Toronto, it's in a city beside it called Mississauga but they still call it Toronto Pearson Airport 

[Akiki 3,900]

3 hours ago, Economy said:

Recently a train was detailed due to poor maintenance

Tbh, this isn't quite true. Comboios de Portugal (CP) invested in new infrastructure last year. The new Alphas are gorgeous. The track problem is an old one and the main issue is that some tracks dont have enough passengers to turn into profit. 

The 25th April Bridge also needed repairments but I think that most of it is gross negligence. By now Lisbon should have 3 bridges. Vasco da Gama is used for north-south connections (porto-algarve), most people still choose to take the 25th April. It's thousands of cars for almost 60 years. The connection Chelas-Barreiro would be perfect to close the gap between the two shores