Economy growing “at strongest rate in almost 10 years”

Portugal’s economy is growing at the “strongest rate in almost 10 years”.

The good news – coming from statistics institute INE – follows a weekend of so much celebration that financial jargon is possibly the last thing on which anyone was ready to concentrate.

But the bottom line is exceptionally positive – so much so that opposition MPs have claimed all the credit.

Talking to Lusa today PSD MP Inês Domingos said: “We are happy with this term’s GDP recovery which owes itself to reforms realised by the last government, a more favourable conjuncture both internationally and at a EU-level”.

Needless to say, PSD delight has not been given centre-stage.

Financial website Dinheiro Vivo puts much more emphasis on a beaming prime minister António Costa – hands up in an apparent show of modesty – and the fact that much of the good news comes from “an acceleration in investment” and adjustments made during this government’s time in office.

Dinheiro Vivo cites “the increase in the national minimum wage, the continued reinstatement of public sector salaries and the end of the IRS supertax”.

This was the third consecutive leap in GDP, adds the site, and shows growth too in exports over imports.

“Beyond this, internal consumption remained high, though not as high as the three months previously”.

All in all, the good news week looks set to continue, says the website, with the government, Bank of Portugal and “more recently” the European Commission agreeing on average annual growth for this year of at least 1.8%.

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