Joaquim Miranda Sarmento, the Minister of Finance, expressed optimism regarding Portugal’s economic future, forecasting sustained economic growth with a rate exceeding 3% in the medium term. These positive expectations reflect the Government’s confidence in the structural reforms being implemented and the country’s ability to attract investment and enhance its economic competitiveness.
According to the Minister, the Government’s planned reforms include key measures such as the progressive reduction of the Corporate Income Tax (IRC), which will make Portugal more attractive to both domestic and foreign companies. The reduction in the corporate tax burden is seen as a strategy to encourage the creation of new businesses, boost employment levels, and promote investment in strategic sectors.
Additionally, fiscal simplification is another crucial priority. The Government aims to reduce bureaucracy associated with the tax system, making it easier for companies and individuals to meet their tax obligations. This simplification will allow economic agents to focus more on growth and innovation, directly contributing to the potential increase in the country’s Gross Domestic Product (GDP).
Another important pillar of the reforms is the restructuring of the labor market, which aims to increase flexibility and efficiency in the labor market in Portugal. The Government intends to promote worker qualification, facilitate the transition to new employment areas, and reduce barriers to hiring, thereby creating a more dynamic and favorable environment for economic growth.
In summary, the Minister of Finance emphasized that these structural reforms are essential to consolidating Portugal’s economic growth. The goal of achieving economic growth above 3% in the medium term demonstrates the Government’s ambition to ensure sustainable development, improving citizens’ quality of life and reinforcing the country’s position in the global economy.
