Portugal’s Economy Minister highlights resilience of economy
Portugal’s Minister of Finance, Joaquim Miranda Sarmento, said that the Portuguese economy has demonstrated “enormous resilience” in the post-pandemic period, with the capacity for growth and attracting investment.
Speaking on Tuesday in Sines, the Minster said: ”The Portuguese economy, especially in the post-pandemic period, has shown enormous resilience, an enormous capacity for growth and attracting investment, an enormous capacity for job creation and wage increases.”
During the launch ceremony of the new Sines Customs House, in the auditorium of the Sines and Algarve Ports Administration (APS), Miranda Sarmento cited a study by the Bank of Portugal, “which will be presented on Monday” backing up his confidence.
“Real wages, following the pandemic, following the inflationary period of 2022-2023, are growing above 3%, that is, wages after inflation are increasing significantly, something we haven’t seen in our country for quite some time,” he emphasised.
Joaquim Miranda Sarmento linked this performance to the economic dynamism of Sines, pointing to it as one of the main examples of the country’s capacity to attract investment.
“Our economy has been able to create wealth, attract investment, and export. Today, export figures also show this dynamism, and Sines is the best example of this,” the official noted, highlighting investments by CALB, Galp, Repsol, Data Centers, and the AI gigafactory.
In addition to these investments, the government official also considered the Port of Sines “absolutely vital” to the Portuguese economy, both in “industrial exports” and in the “import of components” and other raw materials.
The new Sines Customs Office, which currently operates as a customs delegation for Setúbal, will operate within the Port of Sines facilities, in the Logistics Activities Zone, from January 1, 2027.
Source: Negócios; Credits: ANTÓNIO COTRIM/LUSA
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