“2023 is going to be a very difficult year. Nobody knows how
difficult. It depends on whether the war lasts a long time or lasts a short
time, it depends on whether the effects of the war remain very high or not, it
depends on whether inflation starts to go down or not, it depends on solving
energy problems and the cost of energy”, said Marcelo Rebelo de Sousa,
considering that “everyone is aware that it will be worse than 2022”.
The head of state commented, in Leiria, on the report with
world economic forecasts released by the Organisation for Economic Cooperation
and Development (OECD).
In the document, the OECD predicts that Portuguese economic
growth will slow from 6.7% this year to 1% in 2023 and 1.2% in 2024, with
inflation standing at 8.3% in 2022, 6.6% in 2023, and 2.4% in 2024.
“Real GDP [Gross Domestic Product] growth is expected to
decline from 6.7% in 2022 to 1% in 2023 and 1.2% in 2024, with the Russian
invasion of Ukraine, supply chain disruptions, rising energy prices, and the increase
in interest rates penalising activity”, reads the report.
Marcelo Rebelo de Sousa said that he had recently received
the president of one of the major groups in the automotive industry, who told
him that “car sales had already begun to slow down in America and Europe and
that he predicted that the economic situation in the first half of the year
would be a problem.”
It won't be difficult for the socialists who have tucked away LOTS and LOTS of EU funding.
By K from Other on 23 Nov 2022, 11:19
I've never seen Portugal so full of people buying year round like there's no tomorrow and people from all over the world. Someone wants a recession to happen no matter what and are trying to create alarm and pessimism in Western markets.
By Diogo F. from Lisbon on 27 Nov 2022, 00:16