Portugal expected to return to pre-pandemic wealth levels in 2022.

Portugal is expected to return to pre-pandemic levels of wealth next year, the government said on Wednesday, adding that it is making an upward revision of growth estimates until 2022.

Several parties mentioned that the executive anticipates growth of 4.6% this year and 5.5% in 2022. Still, the secretary of state for fiscal affairs, António Mendes, only said that growth projections for this year and next year would be clearly above the figures predicted in the stability programme.

“The figures we are working on are clearly above what was projected in the stability programme. I recall that today the central bank spoke of the growth of 4.8% for this year – and we are still fine-tuning the final figure. But growth will be well above the 4% forecast. It will also be above the 5% forecast for 2022,” he said after meeting parliamentary parties to discuss the draft State Budget for 2022.

According to Mendes, in the aggregate set of the two years, Portugal will have the ability to return to pre-pandemic wealth levels.

(Pedro Morais Fonseca | Lusa.pt)