LISBON: Portugal off the list of member states with excessive economic imbalances, stating that it now has only “imbalances”. The country’s president welcomed that development, but stressed that further progress is needed. “It’s good news that Portugal has exited the group of countries with excessive imbalances, to another group of countries that includes major European economies,” said de Sousa. “Which means that important steps have been taken.”
However, the head of state issued “an appeal for the future”, namely that “we have to take still more steps from the economic and financial point of view.”
The president, who was speaking to journalists after a visit to the Archaeological Museum at São Miguel de Odrinhas, near Sintra, said that “the Portuguese have to be ambitious” and make further progress where economic growth is concerned, especially on what he termed “structural” issues.
“We have to hold the course in terms of budgetary rigour, we have to hold the course and deepen it in terms of returning to reductions in our public indebtedness,” he said.
Portugal’s public indebtedness is one of the highest in the EU, and it is not expected to come down significantly for some years.According to de Sousa, the country should “create conditions in the field of investment and exports” and also “look at the variable conditioning factors that allow that growth and the creation of employment and more social justice.”
