Portugal coming out stronger

in News · 08-05-2020 01:00:00 · 7 Comments

The Minister of Foreign Affairs has stated the he believes the image of Portugal has been made stronger since the Covid-19 crisis.

“The country’s image has been reinforced in this crisis in different dimensions”, due to “political unity and institutional [achieved] consultation and maintaining all the constituent elements of democracy”, stated Augusto Santos Silva.
He added: “The resilience of the SNS [National Health Service] is one of the most prominent elements in the circles that count in Europe: political, economic, business, union circles and, of course, also public opinion”, said Santos Silva.
Questioned by the deputies, the minister admitted that the export sector will be one of the most penalised with the current crisis, but considered that the recovery to the level of 2019 should happen in “two to three years”.
“According to the European Union’s forecasts, it is possible that the drop in Portuguese exports will reach 14 percent, but this drop we all expect to be cyclical,” said Santos Silva, adding that “the same forecasts point to a recovery of Portuguese exports by 13 percent”.
Although he did not expect the level of the economy to be, in 2021, identical to that of last year, the minister said that the Government’s forecast, of recovery in two to three years, “is more than comfortable”, being “even prudent”.
The minister also considered that the response to the crisis should not be made through austerity, but “through investment by all” and “by betting on new opportunities”.
Although he admitted that the accumulation of debt by the State is a mistake, Santos Silva implied that going to the debt market is inevitable.
The State “has suffered the logical consequence of the slowdown in economic activity, which is the decrease in tax revenue and, at the same time, it has increased its expenditure very significantly, both with credit lines and with resources it makes available to families, people and companies ”, he recalled.
This implies, according to him, that the State has to finance itself “much more than what was foreseen in the State Budget for 2020”, being that “this need for State financing will grow in the coming months because in the recovery phase of economy, more funding will also be needed.
On the other hand, “one of the teachings of this crisis in Europe is the importance of not losing sight of the State’s social expenditure because it is the one that guarantees the capacity to respond in terms of health and social protection”, said Santos Silva.
To overcome the situation, achieving lower costs and longer payment terms, Augusto Santos Silva considered that the best solution is for the Member States of the European Union to request market financing together.
“If we go to the market together, we will all get a double benefit: more generous moratoriums, more manageable repayment terms and lower if not nonexistent interest rates”, he defended.
The Minister of Foreign Affairs added that the Government wants to transform the country into a “powerful‘ cluster ’of industrialised Europe”.
“The first axis [of the Portuguese strategy] is that Portugal wants to be at the forefront of Europe’s reindustrialization and wants to put its enormous industrial capacities at the service of Europe”, said Augusto Santos Silva.
According to Santos Silva, the economic crisis caused by the confinement and the closure of economic activities in the context of the new coronavirus pandemic has forced countries “to learn some lessons that could be an opportunity for Portugal and Europe”.
One of these lessons is that the European economy needs reindustrialisation, which, according to Augusto Santos Silva, could be an opportunity for Portugal.


Governments need to understand that for the last 30 years have been chain all the power to control about 80% of goods made, its sad that we allowed this tragedy to happen but it’s NOT late to change and start NOW rebuilding our country so we don’t need to depend on anyone , if your going to do it, JUST DO IT NOW and we will reap the benefits down to road . Follow the USA ???????? President TRUMP and MAKE PORTUGAL GREAT AGAIN ????????????????????????????????????
John Goncalves


By John Goncalves from USA on 15-05-2020 01:03

Irene Neves - I may not wholly agree with John Dough either but suggesting he leaves 'your' country is blatantly racist and oberly prickly. I will defend any immigrant's right to say what they feel about their new country and have done so in my own native country many times over , Besides he was not even singling out Portugal at all but criticising Europe - and while I can see his argument I do not wholly agree - it is a complex situation that has more to do with globalism and neo-liberal economics than it has to do with some form of hypocrisy.

By Mac from Algarve on 10-05-2020 11:38

I'm agree with the idea of re-industrialization in Portugal. But Government needs to implement this idea as soon as possible, b'cos all European countries also know this need (dependency to other countries) and going to start this kind of industrial revolution after this covid-19 crisis.
I request to Portugal government please open some kind of chanel, where anybody can go and introduce his business idea with government. B'cos here in Portugal many brilliant minds are exist . They have excellent level of skills and knowledge , who can really helpful in an increasing country economy in few months. They just need a platform where, they're seriously listen by government .

By GURJEET SINGH from Lisbon on 09-05-2020 05:20

John Dough, if you feel so negatively, then, please be my guest and leave my country!

By Irene Neves from Other on 08-05-2020 06:48

Why is the foreign affairs minister Augusto Santos Silva lying to all of us? Like his peers is an hypocrite! The facts and the reality negate his demagoguery! The ever volatile tourism and transitory services are down, dramatically, and we lack the capacity to produce our essentials and almost everthing else! As it was clearlu shown now with the Covid-19 even trivial and simple things such as PPE, test kits, desinfectants and lab chemicals had to be imported from China where the globalization promoters produce them now, cheaper, faulty and often of poor quality! Someone got richer but not Portugal and the portuguese! Now Portugal is not stronger but weaker, it's not resilient but fragile, it's not sustainable but efemural!

By Tony Fernandes from Other on 08-05-2020 05:01

In Portugal we have a government of self appraisal which Portuguese seem to love. I on the contrary hate.

By Diogo from Madeira on 08-05-2020 03:33

I don't know whether I could agree with the improved image and neither with the idea of re-industrialization of Europe. Europe overall wants to live in thier dream world of a clean and environmentally friendly life with low consumer prices, which was only possible by moving everything dirty and environmentally unfriendly abroad. We don't even recycle our own waste but dump it into 3rd world countries. There is a strong opposition against mining in Portugal, but none against using products that are based upon mined minerals. I think that most Europeans are hypocrits.

By John Dough from Lisbon on 08-05-2020 11:01
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