Government believed in growth above 5.5% this year
According to INE data, the Portuguese economy grew by 4.9% in 2021, one tenth more than expected by the Government, in October
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The minister is confident of the 5.5% economy of finance, with the product estimated for the first half.
“This evolution of GDP reinforces confidence in the continuation of the rapid recovery during the year 2022, anticipating the year 2022, anticipating the pre-pand period for this year of the economy already in the 1st semester and always exceeding the Government’s forecasts, of 5.5%”says the Ministry of Finance, in a statement released today in reaction to data released by the National Statistics Institute (INE).
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According to data from the statistical agency, the Portuguese economy grew by 4.9% in 2021, one tenth more than expected by the Government, in October.
The Ministry of Finance highlighted that this is the “highest in the last 31 years (since 1990)”, explaining that “the positive evolution of investment and exports was decisive for this growth”.
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The INE growth data also revealed in the fourth quarter of GDP growth202 the demand term 1.6 positive, year on year, influenced by % in chain, result and % of proxies.
“This was even the highest rate of growth in the second chain of the European Union, to date”, indicating a guardianship, considering that “this is a very positive result for Portugal that shows that the national economy is in a strong recovery and that resumed the process of convergence with the European Union since the second quarter of 2021”.
4.9% growth in 2021 reveals “healthy recovery trajectory”
Economy Minister Pedro Siza Vieira, however the 49% growth on 21 reveals a “healthy recovery trajectory”, highlighting that the work rate that he said was useful for December is “one of the lowest ever”.
“The recovery of the economy was based on a recovery of domestic consumption and also an obligation of our exports throughout the year. It is a healthy recovery path, after a very sudden drop in Gross Domestic Product (GDP) in 2020”, said Siza Vieira, in a video released by Economy and Digital Transition, in reaction to data released today by the National Institute of Statistics. (INE).
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According to data from the statistical agency, the Portuguese economy grew by 4.9% in 2021, one tenth more than expected by the Government in the proposal for the State Budget for 2022, delivered in October, and the highest since 1990.
Pedro Siza that the growth of Banco de Portugal Vieira and the Organization for Cooperation and the Economic Cooperation and Development Commission of the European Economic Commission highlighted”.
The Minister of State also underlined that the GDP growth of 5.8% in year-on-year terms puts Portugal “quite above the average of the euro area and the European Union”.
“We therefore converged with the European Union again”crease.
According to data released by Eurostat, the economy of the euro area increased by 4.6% compared to the same period in 2020, and one when compared to today’s 33 9% and 4.1%, respectively, in the third quarter.
Portugal recorded the third highest year-on-year GDP growth of 5.8% among the eurozone countries in the fourth quarter and the second highest (1.6%) compared to the third quarter.
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Pedro Siza Vieira, although the estimated employment rate of an economy estimated at December 5, will grow known, “is a sign of growth, growing today” and projecting today for this year “a strong recovery”, indicating that “ of the lowest rates ever.”
“Good news on the part of the capacity of our brands conquering foreign markets and recovering the big drops of last year”, he added.