Portugal could double income in a decade

Former banker António Horta Osório says Portugal could “double its income” in 10 years if it managed to set aside party political differences and define a broad consensus.

The former head of Lloyds Banking Group gave his opinion at a discussion to mark the 158th anniversary of newspaper Diário de Notícias.

“To boost growth, investment needs to be stepped up in research and development. I think that public support funding should be channelled to innovation and this should be the priority,” said the non-executive board member on companies such as Bial, Impresa and Grupo Mello.

Horta Osório also affirmed that Portugal must continue to focus on exports and called for less involvement of the State in the economy.

The former Credit Suisse banker also warned of a “difficult 2023 because of inflation”, which is a hidden cost for people that would “lead to asymmetries”.

Source: Essential Business