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Economics

Portugal Says It’s Better Prepared to Face a Crisis This Winter

  • Government is keeping its 2023 growth forecast for now
  • Tourism revenue to reach record in 2022, economy minister says

Portugal is better prepared to face the current economic challenges than it was during the euro area crisis more than a decade ago, when the southern European nation requested an international bailout. 

“Ten years ago our economy was in a recession and our debt was rising,” Economy Minister Antonio Costa Silva said in an interview in Lisbon. “Today we have exactly the opposite situation -- a growing economy and falling debt. But we can’t have any illusions: 2023 will be a very tough year.”