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How Portugal managed to restore its public finances

2024-03-08T18:48:23.007Z

Highlights: Portuguese go to the polls on Sunday to renew Parliament, after more than eight years of rule by the Socialist Party. The country, which was among the dunces of the euro zone, posted a budget surplus last year and one of the most dynamic growths on the continent. The socialists, led by former minister Pedro Nuno Santos, 46, are neck and neck with the centre-right party of Prime Minister Antonio Costa. The outgoing prime minister is not running again: he announced in November the resignation of his government.


ANALYSIS - The country, which was among the dunces of the euro zone, posted a budget surplus last year and one of the most dynamic growths on the continent.


The Portuguese go to the polls on Sunday to renew Parliament, after more than eight years of rule by the Socialist Party, under the leadership of Antonio Costa, which leaves a country in an economic situation that would make its neighbors green with envy. the euro zone.

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The 62-year-old outgoing prime minister is not running again: he announced in November the resignation of his government, hit by a corruption scandal over the award of contracts in renewable energies.

Although his office was searched, he himself is not being prosecuted and claims to have

a clear conscience

”.

He may be aiming for responsibilities within the European Union after the June elections.

But this climate of distrust is reshuffling the political cards and shaking the stability laboriously acquired over the years by the country, mired in the sovereign debt crisis a little over ten years ago.

Also read: Portugal: unemployment stood at 6.5% in 2023

The socialists, led by former minister Pedro Nuno Santos, 46, are neck and neck...

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Source: lefigaro

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