The Economy of Portugal
The Comeback: 2015 to Today
A government that eased austerity while keeping deficits low helped Portugal return to growth and budget surpluses.
Portugal surprised sceptics.
Political change
After 2015, a left-leaning coalition raised some incomes while keeping fiscal discipline.
Growth
Tourism and exports drove recovery.
Surpluses
Portugal ran budget surpluses and cut its debt ratio.
Ratings
Credit ratings improved and borrowing costs fell.
A lower debt ratio
Debt as a share of GDP fell from its peak.
Crediting one factor for recovery
Tourism, reforms and politics all played roles.
Key takeaways
- Fiscal discipline continued.
- Tourism and exports grew.
- Surpluses were achieved.
- Ratings recovered.
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