António Costa Silva – Minister of the Economy and Maritime Affairs of Portugal: “We are going to derive the ‘golden visa’ to productive investment.”

• 4 February, 23

Portugal Golden Visa program grants residence permit for those who invest 500,000 euros for new real estate and 350,000 for properties under renovation.

The Golden Visa designed to attract foreign investment and it worked. Until December, they were most 560M euros, most of the real estate sector in large cities. Now what they want is to redirect the golden visa for home purchase to the interior of the country and create the conditions to generate investment in the productive area and economic development.

Spain and Portugal going to continue collaborating as with the Iberian exception

At the Iberian summit in Viana do Castelo in December, Minister Reyes Maroto was very supportive of promoting cross-border cooperation and with Minister Nadia Calviño to discuss the development of the so-called 5G corridors because Portugal wants to have 5G throughout the territory to develop that paradigm of smart cities.

Expect Portugal to grow by 0.6% in 2023

Portugal has an average inflation forecast for 2022 of 8% and in 2023 it will end at a maximum of 5.5%. In this perspective, the government has forecast growth of 1.3% and 1.5% of GDP. Therefore, Portugal believe that they are going to have an economic contraction but not a recession in the country.

Portugal tourism expect recovered

Portugal tourism exceeded the 2019 data by 10%. Now they are focused on cross-border tourism, they want to collaborate with Spain since there is very little population on our side and this would revive the area.

Cre: eleconomista.es