In Lisbon on Tuesday, the governor of Banco de Portugal (BdP), Mário Centeno, believed that the economy was surprising and that it is necessary to live up to this surprise and stimulate growth.
“The economy has surprised us positively in recent years and we need to live up to that surprise and be able to take action to drive this growth that comes from stimulus”said Mário Centeno at the opening session of the first meeting of Portuguese regulators in Lisbon, dedicated to the theme “10 years of regulatory framework law – what future?”.
For the former finance minister, respect for institutions, along with education, are the pillars of the development of modern economies and societies.
The economy today is “more demanding”, the result of the production potential “of increasingly educated generations that can take Portugal to the next level”, he stressed.
Centeno also defended that all regulators played a role in the evolutionary process of regulation in Portugal that has taken place over the past decade, adding that the BdP will continue to work to contribute so that the current institutional framework “better serves Portugal’s interests” . .
The head of the Portuguese financial regulator also said that the sanctioning powers of the BdP play an important deterrent role, as regulation in its operation is a requirement to intervene “with more quality and faster”.
Mário Centeno also stressed the “irreplaceable role” of the BdP in promoting the economic and financial literacy of citizens.
“A conscious and informed action by economic actors is also a way of regulating the markets. Our role has been crucial in giving people access to complete information about the Portuguese and European economies,” he concluded.
Source: DN
