Tuesday, January 31, 2017

Costa: Portugal has accelerated, the IGCP will repay and the banker can take advantage of – Jornal de Negócios – Portugal

In the intervention made this Tuesday at the Santander Totta, António Costa left economic guidelines to the Portuguese. First, he admitted that the growth might have accelerated in the last three months of the year. Then he said that there are measures that allow the reduction of the debt, in anticipation of the new repayments to the International Monetary Fund. And still recalled the banker, with high levels of real estate in the balance sheets, that there are ways to take advantage of this weakness.

‘Portugal is accelerating the pace of growth in the third quarter of last year had the pace high throughout the European Union”, said António Costa, referring to the improvement of 1.6% of gross domestic product for the period between June and September.

In relation to the last three months of the year, the expectation is that Portugal “has not only consolidated, but even accelerated a little bit what were the data of the third quarter”, as he cites the Portuguese.

The path to economic Portuguese was praised by Ana Botin, who referred to the provisional data of unemployment, to 10.2% in 2016, and to the public finances, with the budget deficit not to surpass 2.3% of GDP. In fact, Costa specifically referred to these data in his speech.

the leader of The Executive said that, for the future, there are less limitations than in the past. There was extraordinary operations such as the resolution of the Banif (sold to Santander Totta in an operation in which the public charges can amount to 3 billion euros) and the capitalization of the CGD. Without them, “gross debt would have been reduced”.

As if it will repeat, there is release of resources. In addition, the Coconuts will be returned by the BCP and the guarantee of the BPP will be returned, believes. “[The facts] that will allow us to new anticipations of the payment of the amortization of the debt, including to the IMF,” said the prime minister.

about the specific problems of banking, Coast left a word: “In the banks, when they talk a lot of trash that have accumulated in the field of real estate, there is always value to discover where they often don’t think that existed”. “There is no problem that has no solution,” he said, remembering that it was thus that the building of the Santander Totta, which was inaugurate by the side of Ana Botin, Vieira Monteiro, and Fernando Medina, used a slope that had how to use the presentation of an advertisement for the Zoo.


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