The Finance Minister announced this Tuesday that the weight of public debt has fallen to 113.8% of GDP in 2022, below the government’s forecast of 115%, and that Portuguese exports are the best “ever” performance of the Portuguese economy has achieved.
“I can announce here today for the first time that government debt will be reduced to 113.8% of product by 2022”said Fernando Medina during the first intervention at the regiment’s hearing that will take place this afternoon at the Budget and Finance Commission (COF) in parliament.
Fernando Medina stressed that this rate represents a return to “pre-pandemic levels and pre-troika levels”, being the lowest since 2010, which he said “broadens” the “margins of action in the present”.
The result announced by the official this Tuesday is below the government debt estimate of 115% of gross domestic product (GDP) envisaged by the government in the scenario underlying the state budget for 2023 (SB2023), delivered to the General Assembly of the Republic, in October.
The finance minister also highlighted data released this Tuesday by the National Institute of Statistics (INE), which confirmed the growth of the Portuguese economy at 6.7% last year.
“Today we are 3.3% above the activity level of 2019″he said.
The finance minister also noted that Portuguese exports reached 50% of GDP in 2022, which he said was “the best result ever for the Portuguese economy”.
“What we sell abroad is already worth half of the wealth produced in a year”he pointed it out.
The finance minister, on the other hand, emphasized that Portugal was the fourth country in the eurozone with the largest support package to dampen inflation.
Source: DN
