The President of the Republic asked the government to disclose in advance the macroeconomic scenario that will accompany the state budget for 2023. Marcelo Rebelo de Sousa wanted the government to inform the Portuguese what they can expect in 2023. It is in times of great uncertainty, when it is difficult to make predictions, as often as we need to her more.
Since Marcelo’s appeal, we have known that Germany could enter a recession, Vladimir Putin announced the annexation of 15% of Ukraine’s territory and left cloaked threats of the use of nuclear weapons, the two most important infrastructures for transporting gas from Russia to Europe. badly damaged.
With the turmoil of recent months showing no sign of abating, the government must provide a macroeconomic framework based on the best and most up-to-date information available. The country’s 2022 budget, presented in April, is expected to largely fail macroeconomic targets. In September, the Public Finance Council revised upward GDP growth to 6.7% (4.9% in OE presented in April) and inflation to 7.7% (4% in OE presented in April). The recently released forecast for Eurozone GDP growth in 2023 (0.3%, OECD) and the latest inflation data for September (9.3%, INE) will certainly influence the macroeconomic framework.
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