The finance minister said on Tuesday that the 6.7% growth in 2022, the highest in 35 years, gives confidence about the development of the economy this year, and admits that the results are better than expected.
Speaking to Lusa, Fernando Medina said the growth data “gives more confidence regarding 2023 progress”.
Portugal’s gross domestic product (GDP) grew by 6.7% in 2022, exceeding the 6.5% forecast in the state budget for 2023 (OE2023), the National Institute of Statistics (INE) announced on Tuesday.
In the fourth quarter of 2022, GDP grew at an annualized rate of 3.1% (deceleration from 4.9% in the third quarter) and 0.2% annualized (0.4% in the previous quarter).
“Closing the year 2022 without a recession, without a downturn in the economy means that we have more capacity to achieve the objectives for the year 2023,” said the minister.
Fernando Medina stressed that in 2022 there was “the biggest economic growth in 35 years” and recalled that Portugal is one of the six economies out of 12 in the Eurozone that have already released results showing positive results.
“This means that, in the international comparison, we will close the year 2022 with a growth rate that will significantly double compared to the Eurozone, placing Portugal as a country that has already recovered well from pre-2022 levels at the end of 2022. Pandemic. Therefore, we are 2.6% above the level of the 2019 pandemic, which is not happening with other countries,” he stressed.
The official refused to anticipate a new forecast for 2023 and admitted that the government will update the forecasts in the stability program: “Only then will we make new assessments about the progress of the Portuguese economy,” he said.
“This data that came out of 2022 gives us confidence that the 2023 results will be better than our projections. This is very important data right now. Safe steps, consistent steps,” he said.
Source: DN
