Finance minister says government has removed Portugal from 'isolated position' of third most indebted country (C/AUDIO)

The finance minister said the government's performance in 2022 has lifted Portugal out of the "isolated position" of Europe's third most indebted country, stressing that this represents a "credibility gain".

"The effort that we have made during 2022 will allow us to ensure that Portugal no longer occupies this position of third place on the podium of the most indebted countries and that Portugal integrates a peloton where, in this order , Spain, France and Belgium”, declared, Wednesday evening, Fernando Medina.

The official was speaking at a dinner in Funchal, as part of the 'Madeira's 500 Largest Companies' event, organized by Diário de Notícias da Madeira.

“This year we will have the greatest reduction in the weight of public debt in the product since there is no type of record,” said Fernando Medina, reinforcing: “We will always hear critics devalue, say that c was the economy, it was inflation. It's true, it all helps. But the truth is also this: if we had decided to spend all the money, the debt would have remained as it is.

The socialist official considered that the reduction of public debt is one of the aspects that benefits the country in the face of the current international situation, also highlighting the geographical location as a factor of attractiveness and development, as well as the employment rate. high and political and social stability.

“Portugal held, at the beginning of 2022, a public debt of 125% of the product,” Medina recalled, adding that only Greece and Italy had higher debts.

"The fundamental issue is that we will no longer be in an isolated position, we will become fully integrated into what are the averages of countries with economies much larger than that of Portugal", he reinforced.

The Minister of Finance recalled, on the other hand, that the priorities of the socialist government for 2023 are based on supporting family income and protecting jobs, increasing investment and balancing public finances.

“Our objective for the year 2023 is to have a primary balance of 1,6% of the product, that is to say that Portugal will have a surplus in its budgetary accounts, if we exclude the dimension of the interests that we have to pay,” he said. , explaining that this will allow a reduction of the public debt to 110% of the proceeds.

“Our goal is to reach 2026 with debt below 100% of proceeds,” he said.

CC // EJ

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