Nazaré da Costa Cabral: “There is great uncertainty regarding the performance of the economy in 2021”
The president of the Council of Public Finance, Nazaré da Costa Cabral, says that the situation of the Portuguese economy is "complex", being dependent on the evolution of the pandemic and the ability to recover from the international "bad image" to win over tourists again.
Simplified lay-offs will tend to be more advantageous for most companies with breakages in revenues of up to 75%, says an expert, who, however, warns that it will depend on the specific framework of each company.
The evolution results from the combined effect of a 9,5% contraction in revenue and a 0,5% growth in expenditure, reflecting the impact of the third wave of the pandemic. Tax revenue fell 13,2% in the first month of the year, while Social Security spending increased 5,6%.
The ECB's chief economist guarantees that the institution is ready to use “flexibility” to avoid tightening financing conditions, which is incompatible with combating the impact of the pandemic on the projected inflation path.
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