Monday, October 24, 2016

The minister of the Economy said to be “misplaced” speculation about the second rescue – the Daily News – Lisbon

Caldeira Cabral says that Portugal is in a good moment and that the deficit will comply with all the criteria of the European Union

The minister of Economy, Manuel Caldeira Cabral, said this Monday, in Caminha, district of Viana do Castelo, be “totally misplaced” speculations that point to a second rescue for Portugal.

“Are totally misplaced and makes no sense to talk about them,” said Caldeira Cabral to journalists when questioned by journalists of Galicia about this possibility reported this Monday by the newspaper La Voz de Galicia.

On Friday the credit rating agency financial DBRS has maintained the rating assigned to Portugal in the ‘BBB’ (low), the first level of investment, and already out of the ‘junk’, and has confirmed the prospect stable.

The minister of Finance, Mário Centeno, who spoke to journalists after the announcement of the DBRS, stated that the decision “confirms the determination and the justice of the measures that the Government has been adopting” and pointed to the latest economic indicators, including the level of trust and volume of exports, as well as “revisions that several institutions have been doing in the deficit to 2016″, which are said to be “reason for confidence” for the Government.

This Monday, in the town Hall, on Walks, at the entrance to a working meeting with business associations of the euroregion North of Portugal, Galicia, Caldeira Cabral, said that “Portugal is in a very good moment.”

“Portugal is in a very good time, is with a deficit that will meet all the criteria of the European Union, is in economic growth, and this is what we should highlight,” he stressed.

The governor added that Portugal “must seize the moment of economic recovery” and that Galicia must take advantage “of the moment of large-scale investment” that is to live.

“So that in this new cycle that opens, after a period of adjustment that was so negative for the two countries, we can take advantage of all the opportunities to work together to improve the competitiveness of the euroregion North of Portugal/Galicia,” he said.

Caldeira Cabral added that the euroregion has a relationship old, it has investments in common and have relations with very large exchange and friendship between people”.

“The North of Portugal and Galicia have also many business opportunities and some of the interconnections between companies that are already taking advantage of these business opportunities, but there are still many works to make,” he said.


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