Centeno: “The recovery still in its infancy” – Observer

Portugal “is going through a recovery process that is in its infancy,” said Monday the Minister of Finance Portuguese Mário Centeno. From New York, Centeno stressed however that “political stability is a guarantee.”

“The recovery is shy, very recent and it follows a period of ‘performance’ very weak in the second half 2015, “the minister added.

the Minister attended a dinner that ended an international forum on Portugal and economic relations with the United States. The meeting brought together about 110 investors, businessmen, politicians and economists at the Harvard Club in Manhattan.

For the meeting, Centeno took the message that “Portugal is a stable environment for investors,” which “the public administration reform is moving” and that “the national reform plan will have the expected results.”

“political stability is a guarantee in Portugal. We have threats from the extreme left or right, as in other countries, and there is a permanent dialogue with the social partners, “the minister explained.

During the event the Luso-American Chamber of Commerce, which had the support of the Agency for Investment and Foreign Trade of Portugal (AICEP), the minister said that “after six months, it is possible to undo some of the preconceived ideas that existed at the beginning” on Socialist Party government.

“We are committed to achieve capital [trust] to the institutions of the European Union. We are not devalue risks or ignore the debt. We are being cautious and are aware of external and internal risks, “Centeno said.

Investors present, the minister also said that” the budget execution is being strictly enforced “with” a very strict control spending “and that in some places, as in tax collection,” is higher than expected in the budget. “

Speaking of about 250 thousand young people who have left the country in recent years, Centeno said that” government wants to create the conditions to take an informed decision about where they want to stay and want this place is Portugal. “

” we have a young population very well formed, along with the highest ‘standard’ International, and we need to make room for her in the labor market. It is also why international investment, mature and well organized companies, is so important, “he said.

On Tuesday, Centeno participates in the Pan European Days, an initiative of the Portuguese Stock Exchange that promotes about a hundred meetings in Boston and New York between companies in the PSI 20 (the main index of the Lisbon Stock Exchange) and investors, as well as a set of lectures.