Portugal least vulnerable to Ukraine war impact

  • 25 May, 22

This data was made available by the European Commission in a report that took into account factors such as energy intensity, dependency on Russian gas as well as exports to Russia.

Portugal and Malta “close the ranking” as the European Union member states least exposed to the effects of war. This may explain why the Portuguese economy will be the fastest growing (5.8 percent) in 2022, according to European Commission forecasts released on 16 May, and at the same time is the country with the lowest inflation rate (4.4 percent).

In their analysis of the Portuguese economy, European experts recognise the risks. However, “in the light of Portugal’s low direct exposure to the affected region, these risks are mostly indirect, stemming from commodity prices, security of supplies and uncertainty in global demand,” explains the European Commission.

Cre: Portugalnews

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