Caldeira Cabral in an interview to El País: “We ended austerity in Portugal”
In an interview to the Spanish newspaper El País, the Portuguese minister stated the Government ended austerity in Portugal and regained investors' trust.
The Portuguese Economy minister Manuel Caldeira Cabral has stated in an interview to the Spanish newspaper El País that the current Government ended austerity in Portugal. “We freed the economy from austerity. We ended austerity and adopted a moderate and responsible policy, we developed workers and pensioners’ income and we assured that the Portuguese citizens would have no more cuts. This is how we regained the trust from the Portuguese and from investors”, he stated.
When confronted with criticism from opposing parties that investors are still suspicious, Caldeira Cabral provided some numbers. He assured that the “quarter ended with a 10% increase in investment”, which is an “assurance of growth sustainability”. He further added: “Twelve years ago, we had a high external deficit, and today we have a surplus in the balance of goods and services thanks to exports, which are growing by 9%, the largest rhythm of the decade, more than in the Netherlands or Germany”.
The minister also gives credit to exports as a booster for economic growth, along with tourism. Caldeira Cabral stated: “Even if tourism is all people talk about, industries such as the agri-food, shoes, textile and also the car industry have been increasing quite a bit”.
Lastly, the minister spoke of the Web Summit, highlighting the gains the event brought to Portugal over one year, namely: the British incubator Second Home now being set in Lisbon; the new Siemens cibersecurity center in Portugal; and Mercedes-Benz, who has in Portugal their only investigation center for developing driverless cars’ technology.
