Recession fears fading? “It’s good news for Portugal”

the Finance Minister Fernando Medina left the meeting among his EU counterparts – Ecofen – confirming the “good news” about the economic outlook, at a time when expectations about a recession are starting to fade.

Fears of a recession in Europe between the last quarter of 2022 and the first quarter of 2023 now appear to be fading. It’s good news for PortugalBecause the more our trading partners grow, the more the European Union grows, the more this will help Portugal’s economic growth in 2023.

The Finance Minister, who participated in the Eurogroup meeting on Monday, sees more positive signs in the economy than a few months ago, but considers that It is essential to support families and businesses in responding to the obstacles that emerge this year.

Thus, the city removes the scenario of recession in the Portuguese economy in the short term and reminded that government indicators indicate economic growth, albeit “more moderate” than in 2022.

Medina refuses to raise wages and guarantees the effectiveness of the wage policy

Minister of Finance They rejected the need for a new wage hike this year and insisted that the government’s wage policy was working to ensure purchasing power without fueling “inflationary tensions”..

“Our wage policy is the right policy to respond to the needs of ensuring purchasing power during 2023, without contributing to an increase in inflationary tensions in our country,” Fernando Medina confirmed, at the end of Ecofin, in Brussels.

Jornal de Negócios reports in today’s edition that the European Commission argues that there is room for wage increases this year and that the planned increases are not only less than necessary to make up for the loss in purchasing power, but they may also be less than the planned increases. To reduce the effects on inflation. In the case of Portugal, the agreed standard is 5.1%.

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