According to the previsions presented on the Bank of Portugal June Bulletin, after the fall of 7,6% in 2020, the GDP in 2021 grows 4,8% and foresees that in 2022 it will grow 5,6%. This growth includes the advances in vaccination, and the maintenance of economic policy support.
The unemployment rate will end with a slight increase in 2021: from 7% in 2020 to 7,2% in the current year, and in the following years it will gradually reduce, until the 6,8% predicted to 2023. This reduction will be dependent on the slow recovery of the most affected activities by the pandemic.
The inflation will be slowly growing, the annual rate of change of the harmonized consumer price index, after -0,1% in 2020, increases to 0,7% in 2021, 0,9% in 2022 and 1% in 2023, continuing to maintain a negative differential regarding the eurozone.
In the next few years, Portugal will again have the opportunity to grow proportionally to Europe. In the entry of the European funds, till 2030 the country will have access to 45 billion euros in community funds: 17 MM PRR, 5 MM that are left of the community funds – PT 2020 and 13MM of the incentives relative to the 2030 program. With this monetary aid and with a strategic investment on the PME’s that represent more than 95% of the Portuguese market, in the most several areas, these can be stimulated and create conditions for the next economic projections to be more favorable to Portugal and for its inhabitants.
