Government wants more foreigners in Portugal to help ‘fake’ a crisis
The Minister of Economy, António Costa Silva, said today that Portugal should diversify exports and areas of intervention, namely in the tourism sector, to “minimize” the impact of a possible economic recession in Europe.
“We can have no illusions: if there is a recession in Germany, the impact will be significant across Europe”, he declared, stressing that the commitment to the tourism sector, for example, at the national level is crucial.
António Costa Silva spoke in Funchal, within the scope of the swearing-in ceremony of the Madeira victim of SEDES – Association for Economic and Social Development, in which he was one of the speakers, on the central theme “The role of Madeira in the national economy” .
“Tourism is a great example that diversification can eventually fill gaps that may occur from Germany or the United Kingdom”, he said, highlighting the 30% growth registered this year in the number of tourists from the United States.
“We are a country that, through its own history, is connected to all the continents of the world. If we work all these markets in a consistent way, it is possible to overcome, or at least minimize, some of that impact”, she reinforced.
The socialist ruler declared, on the other hand, that the Ministry of Economy “should not disturb” the business fabric, but should be “linked to all sectors” to identify problems and develop a set of policies that “make money reach the as soon as possible to companies”.
In his speech, António Costa Silva underlined the importance of the island’s autonomous regions – Madeira and the Azores – in Portugal’s positioning in the world, stressing that “the concept of an archipelagic country changes the entire strategic perspective”.
The minister considered that the economy of the sea will “reformat” the future of societies in the face of the climate crisis and said that it was essential for the country to “look at the infrastructure that was built in Madeira”.
“We have to favor this maritime dimension”, he reinforced.
The President of the Government of Madeira, Miguel Albuquerque, showed all the availability of the regional executive (PSD/CDS-PP) to collaborate with the Ministry of Economy in several projects, namely those related to the digital transition, which he considers essential for the economy of the region, as well as a “historic opportunity” to create wealth.
Albuquerque, on the other hand, expressed solidarity with António Costa Silva on the generalized reduction of IRC.
“I am with you”, he said, and then added: “You can even use our example [da Madeira] of the decrease from 30% of the IRC to 14.8%, because it actually extended the collection of the tax.”
On September 18, António Costa Silva stated that a reduction in corporate income tax across all companies would be “an extremely important signal for the entire industry” and “extremely beneficial” in the face of the current crisis.
“Today, in view of the crisis we are facing, I think it would be extremely productive to have this transversal reduction and, from there, see what impact it may have in the future”, said the regulator in statements to journalists on the sidelines of a visit to companies. Portuguese women who participated in the MICAM footwear fair, in Milan, Italy.