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Portugal Expecting First Surplus In 40 Years

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Economy

https://www.google.ca/amp/s/uk.mobile.reuters.com/article/amp/idUKKCN1TP17E

 

Portugal having one of the most impressive turnaround recoveries after the Eurozone crisis this year finally nearly eliminated the budget deficit with a very tiny deficit of only 0.2% of GDP the lowest in 4 decades

 

Next year a Surplus of 0.3% of GDP is expected 

 

Portugal and Ireland had the best recoveries after the Eurozone crisis while Spain, Greece and Italy have struggled harder to rebound

Edited by Economy
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Economy

@AlexanderMagno @iAstroLeo

 

Portugal reigning :party:

 

Portugal running surpluses while Canada running deficits. I never would of expected that years ago :ladyhaha:

 

Also Portugal's interest rates on debt is currently 1.09% while Canada is almost 1.8%

 

How the tables have turned :giggle:

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AlexanderMagno

This is kind of "fake news" :flop:

 

The party that has been in power for the last four years basically loves to show off improvements, but just sweeps the dust under the  rug.

They simply don't spend: salaries are low, there's no investment, our healthcare is crumbling because it gets no money and no new contracts, education is the same... Portugal is living in a sweet lie because the party in charge wants to please everyone and pretends they are doing something good.

 

If an international crisis happens (which is apparently a reality) we will fall again. 

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Economy
1 hour ago, AlexanderMagno said:

This is kind of "fake news" :flop:

 

The party that has been in power for the last four years basically loves to show off improvements, but just sweeps the dust under the  rug.

They simply don't spend: salaries are low, there's no investment, our healthcare is crumbling because it gets no money and no new contracts, education is the same... Portugal is living in a sweet lie because the party in charge wants to please everyone and pretends they are doing something good.

 

If an international crisis happens (which is apparently a reality) we will fall again. 

Thay wouldnt make this fake news tho. It simply means theres still a lot of issues

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AlexanderMagno
50 minutes ago, Economy said:

Thay wouldnt make this fake news tho. It simply means theres still a lot of issues

Yes of course, I was kind of joking :flop: , but it feels like propaganda. I do believe Canada is still better than us :noparty:  

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HEARTSTOP
2 hours ago, AlexanderMagno said:

This is kind of "fake news" :flop:

 

The party that has been in power for the last four years basically loves to show off improvements, but just sweeps the dust under the  rug.

They simply don't spend: salaries are low, there's no investment, our healthcare is crumbling because it gets no money and no new contracts, education is the same... Portugal is living in a sweet lie because the party in charge wants to please everyone and pretends they are doing something good.

 

If an international crisis happens (which is apparently a reality) we will fall again. 

Well it kinda depends on the point of view. Not saying you're wrong, but you could also say the same about the counterparts.

It is also a sweet lie to invest money you don't have to then face the consequences later with interest added on top.

It just boils down to what you prefer: live relatively well but owe money to everyone, or live rather modestly and not owing money to anyone.

I agree there could be more focus on investing though. There have been  recent campaigns to get Portuguese people back to Portugal, and also to get foreign investors to come to Portugal. For example, when it comes to technology companies, Portugal might be on the top list of the main  benefiting countries from the whole Brexit shenanigans. But on the reverse side of the coin, Portugal is also one of the main countries negatively affected when it comes to tourism.

Either way, the Portuguese quality of life has been steady over the past couple of years. And I say this referring to peace and freedom levels, not just economically.

One a side note, I just wish the Portuguese people would stop paying so much attention to football and reality shows, and would actually pay attention to real issues. Maybe then the money could be used better? Spending money is also a way of voting, and you see even the poorest of Portuguese people spending lots of money on fanatic sports and celebrity-endorsed products/events, which means the government gets away with lots of stuff behind the curtains.

Spoiler

Anyway, I just wrote a whole rant  on Portuguese politics on a popstar cult site, so who am I to say anything :emma::smh::flop:

 

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Luc
3 hours ago, AlexanderMagno said:

This is kind of "fake news" :flop:

 

The party that has been in power for the last four years basically loves to show off improvements, but just sweeps the dust under the  rug.

They simply don't spend: salaries are low, there's no investment, our healthcare is crumbling because it gets no money and no new contracts, education is the same... Portugal is living in a sweet lie because the party in charge wants to please everyone and pretends they are doing something good.

 

If an international crisis happens (which is apparently a reality) we will fall again. 

Sounds like the Netherlands, and Germany, and the UK... for Portugal to be in this situation is really good considering where they were seven years ago. Here's to hoping the economy will keep growing and debt keeps falling so more public investment can be made.

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Teal Ambition

I hope the economy keeps growing :applause:   Definitely would have never seen this coming years ago considering in what position they were in :selena:

▌│█║▌║▌║ i exist only for me - fallon carrington ║▌║▌║█│▌
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Economy
17 hours ago, Oshawott said:

Imagine flopping for 40 years though.  :saladga:

Thats pretty typical of countries to consistently run deficits tho. Only a small portion run surpluses

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Economy
17 hours ago, Luc said:

Sounds like the Netherlands, and Germany, and the UK... for Portugal to be in this situation is really good considering where they were seven years ago. Here's to hoping the economy will keep growing and debt keeps falling so more public investment can be made.

 

17 hours ago, Teal Ambition said:

I hope the economy keeps growing :applause:   Definitely would have never seen this coming years ago considering in what position they were in :selena:

 

17 hours ago, HEARTSTOP said:

Well it kinda depends on the point of view. Not saying you're wrong, but you could also say the same about the counterparts.

It is also a sweet lie to invest money you don't have to then face the consequences later with interest added on top.

It just boils down to what you prefer: live relatively well but owe money to everyone, or live rather modestly and not owing money to anyone.

I agree there could be more focus on investing though. There have been  recent campaigns to get Portuguese people back to Portugal, and also to get foreign investors to come to Portugal. For example, when it comes to technology companies, Portugal might be on the top list of the main  benefiting countries from the whole Brexit shenanigans. But on the reverse side of the coin, Portugal is also one of the main countries negatively affected when it comes to tourism.

Either way, the Portuguese quality of life has been steady over the past couple of years. And I say this referring to peace and freedom levels, not just economically.

One a side note, I just wish the Portuguese people would stop paying so much attention to football and reality shows, and would actually pay attention to real issues. Maybe then the money could be used better? Spending money is also a way of voting, and you see even the poorest of Portuguese people spending lots of money on fanatic sports and celebrity-endorsed products/events, which means the government gets away with lots of stuff behind the curtains.

  Reveal hidden contents

Anyway, I just wrote a whole rant  on Portuguese politics on a popstar cult site, so who am I to say anything :emma::smh::flop:

 

Portugal tackling the deficit also helped in another aspect... its fiscal position is seen as more stable now and its bond investment grades upgraded

 

As a result yields on its debt have collapsed because its no longer seen as dangerous or at risk of default

 

7 years ago government debt interest was as high as 10% while now last time I checked 10 year government bonds were yielding 1.09%. After ajusting for inflation its not really even paying real interest

 

While in much of the world especially europe borrowing costs have dropped a lot (some would argue too much in fact) few countries borrowinf costs fell as much as portugal relative to its peak showing a complete turn around

 

That being said the negative rates in some EU nations are beyond me. Like keep the money under the matress if u wanna keep it safe dont lend it at a loss :rip:

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Economy
18 hours ago, AlexanderMagno said:

Yes of course, I was kind of joking :flop: , but it feels like propaganda. I do believe Canada is still better than us :noparty:  

Economically and quality of life I can tell you it is having lived in both

 

But at least Portugal is in a positive tragectary at this time

 

Canada used to be ranked #1 best country to live in the world every year by the UN a couple decades back and weve deteriorated a lot in relation to what we used to be economically and quality of life

 

After a consistent decline over many years weve kinda just plateued stuck in a tredmill

 

Its not as good as it used to be and the way some things are being handled I dont see us recovering back to what we were any time soon

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