“Economy is recovering fast” in Portugal, says João Leão

Finance Minister João Leão considers that the European economy was “severely” affected by the pandemic in the second quarter, “but now the economy is recovering fast, better than expected both in Portugal and the Eurozone”. The statements were made to Bloomberg this Friday in the margins of the Eurogroup meeting.

Despite the optimistic tone, which he had also adopted in his first interview since becoming Finance Minister, João Leão admitted that “the outlook is still very uncertain and the recovery is not complete”. This Wednesday, the minister had made the same remark in the Interview of RTP3 after saying that there are “more positive signs of recovery than expected.”

Finance Minister João Leão considers that the European economy was “severely” affected by the pandemic in the second quarter, “but now the economy is recovering fast, better than expected both in Portugal and the Eurozone”. The statements were made to Bloomberg this Friday in the margins of the Eurogroup meeting.

Despite the optimistic tone, which he had also adopted in his first interview since becoming Finance Minister, João Leão admitted that “the outlook is still very uncertain and the recovery is not complete”. This Wednesday, the minister had made the same remark in an interview to the public network after saying that there are “more positive signs of recovery than expected.”

In statements to Bloomberg, Portugal’s finance minister specified that the banking sector has helped the economy, that construction continues “very well” and that manufacturing industry is recovering. However, the finance officer assumed that tourism is still “well below” last year’s levels, although it is also recovering. When asked about the UK’s decision to remove Continental Portugal from the air corridors, the minister acknowledged the impact of that decision, adding that the government had adopted specific measures to increase demand for tourism.