Portugal Registers 6.8% Economic Growth & Exports reach 50% of GDP

Portugal Registers 6.8% Economic Growth & Exports reach 50% of GDP - Portugal Business News

Portugal Registers 6.8% Economic Growth according to Portuguese Minister of Finance. This figure is much higher than the 2023 State Budget forecast of 6.5% and shows that a pessimistic outlook is far below the registered figures. It also proves that the Portuguese economy is resilient and exemplary when taking into account the external context as well as rising energy prices.

Portuguese Minister of Economy, António Costa Silva, added that exports will reach 50% of GDP for 2022. Despite the expected global economic slowdown in 2023, these factors contribute to a positive outlook due to Portugal’s resilience that may even lead to economic growth.

Portugal’s Government does not have a policy for reducing VAT on food products as they believe that direct support is more effective. However, the Government does not have a strict policy and prefers continuous evaluation to determine what measures are most effective.

Source: https://www.portugalbusinessesnews.com/post/portugal-registers-6-8-economic-growth-exports-reach-50-of-gdp

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