Prime Minister António Costa ruled out a scenario of “non-growth and even less recession” next year next Wednesday, expecting the economy to “continue to grow above the European average”.
Speaking to journalists at the end of the ceremony commemorating the 112th anniversary of the Implantation of the Republic, in Praça do Município, in Lisbon, António Costa said Monday the government will present the state budget for the following year, which ” a Budget that is adapted to reality”.
“This year we are the country in the European Union with the highest growth, next year the recession in many European countries we are not necessarily immune and therefore Portugal will grow less than this year, but we will not have a scenario of non-growth and even less from recession,” he pointed out.
According to the prime minister, the economic scenario for 2023, on which the state budget will be based, is “of moderate growth, adapted to the realities of the time”, which “is based on a significant slowdown in inflation and, above all, a fundamental concern that is key to economic policy, namely being able to maintain and maintain employment, without fueling the inflation spiral, which is household incomes and corporate competitiveness”.
“After this year’s growth of well above 6% and the highest in the European Union, we will of course adjust our growth next year to the evolution of the eurozone. Therefore we will not have growth of this order, nothing of the kind, but it is a scenario where we can be confident that the country will continue to grow, continue to grow above the European average and move closer to the most developed countries in the European Union,” said Costa.
The head of government also said that the Finance Minister, Fernando Medina, will meet on Friday with “all parties represented in the Assembly of the Republic, as provided for in the opposition statute” and will be “first-hand with opposition parties” that the government will present the macroeconomic scenario and refuses to anticipate concrete data.
António Costa stated that “the essence of the fiscal measures has been designed”, but the government is waiting for the finalization of the budget proposal that will be presented “to complete negotiations with the social partners, so that the state budget for 2023 can already reflect what will the medium-term agreement on competitiveness and income”.
“We are working with the partners on social dialogue so that we can conclude a Competitiveness and Income Agreement, which is a multi-year agreement, as we have presented to the public administration, which aims to ensure that within the horizon of this legislator, 2026, there is not only a loss of purchasing power, as there is an improvement in purchasing power within the term of the legislator, and above all, we have achieved the target that we set ourselves to increase the weight of wages in national wealth to 48%, what the European average is”, pointed out.
Source: DN
