Portugal’s economy is slowly returning to normal after the disastrous bailout in 2008. The country suffered heavy austerity policies lowering key spending and benefits for its population. The slow recovery is back on track with projected GDP growth of 1.6% expected this year.

However, the October Parliament elections are drawing closer and the main opposition in the face of the Socialist Party is promising more growth and less austerity measures if they are victorious. This populist view is welcomed by the people in general making the Socialist Party a serious contender for the majority in the Parliament. The main platform of the Socialist leader – Antonio Costa includes a job creation policy for up to 200,000 new jobs, secured by lowering social security taxation in the short run.

Current situation

15 months have passed since Portugal has received its last instalment of the EUR78 B bailout loan. While general consensus is that its people have gotten poorer, the reality is that the growth of the economy is steady once again, unemployment rates have decreased and there are many convenient options for external investment in the markets. The German Finance Minister called the current situation in Portugal “The best proof that an austerity program including budget cuts and tax increases can work”

About Healy Consultants

For over a decade and following the financial crisis, the incorporation experts at Healy Consultants Pte Ltd., with their comprehensive range of business services in Portugal, have been assisting investors worldwide to set up the optimum corporate structures for doing business in Portugal. The services offered include company registration, banking solutions, accounting and tax and legal services and corporate support services.

Contact us

To inquire more about Portugal company setup options and schedule a conference call, email us at email@healyconsultants or call us on +65 6735 0120

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