The Portuguese economy could fall by 12% in 2020, according to estimates in the preliminary version of the economic recovery plan drafted by António Costa Silva, a government consultant, which puts forward a set of proposals for the various sectors.
In a 120-page document entitled ‘Strategic Vision for Portugal’s economic and social recovery plan 2020-2030’, Costa Silva points out that Portugal “could face one of the worst crises in its history”.
Costa Silva says that “the fall in GDP [Gross Domestic Product] in 2020 could reach 12%”, a figure that is much higher than the recession forecast of 6.9% by the government in the Supplementary Budget recently approved by parliament.
Costa Silva also warns that “from September onwards, the situation of many companies may deteriorate significantly”, adding that it is “fundamental to have an aggressive programme on the ground to avoid the collapse of profitable companies”.
The Prime Minister Antonio Costa said on Sunday that the document is the preliminary version of a recovery plan that will be presented at the end of the month, after which there will be a public debate.
Some of the important highlights of the document are investment in transport infrastructure, particularly railways, and ports, and investment in clean energy with a focus on hydrogen, as well as digital technology. (Bruno Dias, Lusa.pt)