The new Government of Portugal is set to be launched on Wednesday, after members of the Portuguese Socialist Party (with Antonio Costa at its head) are sworn into office. The third consecutive term of the country’s head.To revive one of the most fragile economies in the bloc, the Portuguese cabinet will begin spending 45 billion euros in EU aid.
Portugal, a country that has 10.3 millions inhabitants, was recognized by the Low productivity, low growth and low sAlarios is a major challenge for the leftist government. Costa, who is the leader of the country since 2015 has promised an economic revival after the covid-19 epidemic, but now faces headwinds due to the Russian invasion in Ukraine.
The President of Portugal, Marcelo Rebelo de Sousa, accepted last Wednesday the list of the Prime Minister, António Costa, with the holders of the portfolios that will make up his new Government, The country’s greatest equal in its historyNine ministries out of the eighteen are held by women.
The sharp rise in living expenses is one of the new challenges.After Russia’s invasion of Ukraine, there has been a rise in the prices of electricity and gas for both households and businesses.
Fernando Medina, the new Economy Minister, stated that increasing public spending is not a priority despite the promises of higher revenues. He also said that maintaining a tight grip on the national debt was a fundamental priority for the government. This statement is crucial to the country’s credibility internationally. It is unlikely that Tuesday’s new parliament will approve 2022 state budgets due to delays in counting votes and holding general elections. bureaucratic.
EU aid planned for the coming years includes €15.3 billion of immediate aid for recovery from the pandemic and almost €30 billion as part of EU grants until 2027.
According to provisional statistics released by the Portuguese National Institute of Statistics, (INE), the unemployment rate in Portugal remained at 5.8% for the third consecutive monthly month. This is the lowest figure in the past ten years.
The unemployment rate decreased one point in comparison to the same month last years and by four tenths from November last year, the last variation. According to sex, the rate of childbirth in women is 6.3% and 5.2% respectively.
The youth unemployment rate (between 16-24 years of age) fell five tenths from the previous month to 19.9%.
Portugal has a total population of 5.1 million people. This is one of the largest countries in Europe. Of these, 4.8 are employed while 297,500 are unemployed.