Economic growth below government forecast

By TPN/Lusa, in Business · 15-12-2020 12:00:00 · 2 Comments

Bank of Portugal sees economic growth below government forecast

The central bank said that a strong recovery in exports, more investment and private consumption would lead to 3.9% economic growth in 2021, after an 8.1% slump this year due to the COVID-19 pandemic - the steepest drop in nearly a century. The central bank also said unemployment, which had been falling steadily under the ruling Socialists up until last year, would rise to 7.2% this year and reach 8.8% in 2021.

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Portugal is and always has been a very poor country. It's exports are close to nothing and they still have a Colonial mindset that is based on racism and xenophobia toward all those who are not from Portugal. It's no small wonder nobody wants to do business with this country and nobody wants to go live or visit there either. You cannot grow a countries economy this way.

By andre costa from Algarve on 24-04-2021 07:07

Question what can government do to change the trend of Portugal economy into a recession created by this Government shut down? Let be clear a recession is coming created by Governments NOT allowing transactions between people which slows velocity of money in an economy. If governments limit money velocity in Businesses you get recession. The banks are key player in recession and government regulate what they can do.

What can Government do to enhance economic abilities of Portugal people is the question. Example road help the economy grow by increasing transaction between people that is velocity of money. NOW what could Government do to enhance Citizens ability to earn money like roads have done. Here is MY suggestion. Let the Market place create the best connective intern abilities through 3 or more providers. Government makes it possible for competition in internet with as many providers as possible. This is like the roads that allow business. Question what business today that could create wealth for citizens and Government without increase in Taxes. It about expanding abilities

The area that could be developed in Portugal is Cryptocurrency linked to the banking system supported by government. Portugal could come the Country of Cryptocurrency at a low cost but HIGHT support between Government, Banks and Hight speed internet providers base on Market competition. Power companies who are regulated by government provide low cost elect. Cryptos is an industry and what government that supports it the best will produce wealth. The world needs low cost transactions in time and security of those money transactions and who provides it with the greatest strength will attract wealth in many forms. It happening.

By Scott M. Bartley from USA on 21-12-2020 05:27
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