Banco de Portugal (BdP) director, Hélder Rosalino, warns that it is “very important to accelerate the use of PRR funds [Plano de Recuperação e Resiliência]”, especially at a time when “uncertainty”, from an economic point of view, remains “very high”.
During his speech at the XIV Congress of the Commissioners, the official emphasized that “the risks to the economic environment are high”.
“The external and financial environment has deteriorated, mainly due to the rise in inflation and interest rates”he said, adding that “economic growth reflects the recovery of tourism and private consumption”.
Hélder Rosalino said there are currently “signs in different directions” in the Portuguese economic scenario: if there is “more economic growth” and “more employment” on the one hand, there is “record-breaking inflation”.
“The year 2022 will show strong growth in economic activity, but with some slowdown in the second half of the year and with the prospect of continuing to slow down”he said, pointing out that the BdC forecast points to an inflation rate of 7.8% — the highest value since 1993. “The labor market continues to perform remarkably and has been a factor in the stabilization of the Portuguese economy”he added.
The XIV Congress of the Commissioners’ Association also counted the interventions of the President of the Economic and Social Council, Francisco Assis, and the ISEG professor, João Duque, who looked ahead to the challenges of the economy in the future and reflected on the limitations caused by the Covid-19 pandemic and high government debt as conditioning factors for investment.
Congress continues this Saturday, on a day when personalities such as State Councilor Luís Marques Mendes, the administrator of Millennium BCP, José Miguel Pessanha, the European Commissioner for Cohesion and Reforms, Elisa Ferreira, administrator of the CMVM, José Miguel Almeida, the president of the Republic, Marcelo Rebelo de Sousa, and the President of the Assembly of the Republic, Augusto Santos Silva.
Source: DN
