Senteno: There is more uncertainty about the short term than there was at the end of the year

Senteno: There is more uncertainty about the short term than there was at the end of the year

This Wednesday, Mario Senteno, Governor of Porto de Portugal, said that “there is more uncertainty about the short duration of February and March than the end of this year,” given the prospects for the evolution of the Portuguese economy. Due to the expected impact of imprisonment implemented in the country.

But the governor said the current imprisonment would lead to a decline in Portuguese gross domestic product (GDP) and the 16% decline recorded in the first quarter of 2020 would be deep. According to Senteno, January indicators do not point to the fall of “this magnificence”.

In an interview with RTP3, he said that by the end of 2022, the Portuguese economy would only be able to recover from the quarterly growth recorded in 2019, before the health crisis.

“We have all the conditions to believe in this recovery, especially since funding (…) is available,” he said.

He recalled that this was a “temporary crisis” and not a structural crisis.

“Policies need to focus on where the crisis is today,” he argued, adding that “its impact is not the same in all its areas.”

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