RIGA, Latvia, Feb. 28, 2019 /PRNewswire/ -- Portugal, thanks to the purposeful structural reforms by orienting towards the financial investments, export and labour market, in 2017 increased the level of employment almost by 4%, and in 2018 decreased the level of unemployment by more than 7%, and it became the lowest level since 2004[1]. It shows that reacting taking of thought-out decisions and implicit actions may facilitate rapid recovery of economy, tells Rolands Petersons (Petersons) (Latvia), Member of the Board of Norman Logistics Sp.zo.o.
The first indications for the economic recovery could be clearly observed in the 3rd quarter of 2016, after there were purposeful investments made and the volume of export increased. The fiscal deficit in 2016 went down to 2% of GDP, but a year later it diminished down to ~0.9%, thus reaching the lowest point in the democratic history of Portugal. The amount of the state debt decreased in 2017 by 4.3 (the most significant decrease within 20 years), but the debt of the private sector decreased down to 163.5% of GDP[2]. It is considerable decrease in comparison to maximum in 2012 - 210.3%.
Rolands Petersons (Petersons) (Latvia), Member of the Board of Norman Logistics Sp.zo.o., finds that, the reforms started the internal deflation process that helped to restore the external competitiveness and thus to improve the economic indicators. The stable recovery of the economy of Portugal is based on long permanent structural changes in the amounts and flow of investments, on the clear focus on export and labour market. The significant were also the political initiatives with the aim to regain the trust of companies and consumers. These improvements to great extent explain the present macroeconomic indicators of Portugal, including the balancing of state finances.
About Norman Logistics Sp.zo.o.:
Norman Logistics Sp.zo.o. is an international logistics company based in Poland since 2016. This company operates in Europe and also in many other major logistics centers in the world. The core business is a cargo brokerage, mainly marine cargo. Norman Logistics customers is significant EU companies which his production transport throughout marine cargo. And service providers is medium or large shipping companies. The mission of Norman Logistics is convenient logistics and one point service for the same price, individual and best quality approach.
Author: Rolands Petersons, member of the board of Norman Logistics Sp.zo.o.
[1] https://voxeu.org/article/turnaround-portuguese-economy [2] https://voxeu.org/article/turnaround-portuguese-economy
