Pingo Doce boss “sceptical” about how EU bazooka will help ailing Portuguese economy

Pedro Soares dos Santos, president of the Jerónimo Martins chain that owns Pingo Doce, has told Lusa that he is “more sceptical” about the growth of the Portuguese economy (than politicians) as in his opinion it is “going through a very serious crisis” in which it is “not clear” how the much-trumpeted plan for Recovery and Resilience will actually work. He cited for example the differences between the German plan for Recovery and Resilience, and Portugal’s: Germany’s is set out over 20 pages; Portugal’s has around 150 “which means there is a lot of talk with not much in-between”, he said – stressing he cannot see how the Socialist government “with its coalitions”, can take this country in the right direction. Soares dos Santos admits to being “very concerned”.