On Sunday, March 10, the Portuguese go to the polls to elect their representatives. Early elections were called in early November, after the resignation of Socialist Prime Minister Antonio Costa, who is embroiled in a corruption scandal. Over their eight years in power, the socialists praised their economic record. But will all Portuguese people benefit from it?
2011, Portuguese Still remember that. At that time, their country had hit rock bottom. Public debt Explodes. Markets doubt whether Portugal will ever be able to repay its loans. exhausted from what was then called ” Debt crisis in the euro area », The small country in southern Europe finds itself on the verge of bankruptcy. security On the verge of death Thanks to an agreement signed with the European Union and the International Monetary Fund, Lisbon receives financial aid amounting to 78 billion euros. But in return, the country pledges to implement structural reforms and strict budget cuts.
Stronger economic growth than the rest of the Eurozone
Portugal was able to take advantage of the tourism boom to develop its economic model. Machine tools and agriculture remain its main sectors. Portugal is the largest cork producer in the world. Meanwhile, the small country is increasingly focusing on services, digital technology and green energy.
