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Monthly Report | Economic and Financial Market Outlook | November 2020

We are in the midst of an unprecedented crisis, but the support measures are equally historic

Monthly Report | Economic and Financial Market Outlook | November 2020

Monthly Report | Economic and Financial Market Outlook | November 2020

We are in the midst of an unprecedented crisis, but the support measures are equally historic

  • This year’s drop in economic activity in Portugal caused by the Covid-19 pandemic will be massive. Whether it is 8%, 9% or 10%, this decline will be greater than that seen in all three years of recession during the last crisis. However, it is important to remember that the support has also been tremendous – whether public, provided by the European Union and the State through measures to support families and companies, or on the part of the financial sector.
  • The challenge is not over yet, and we have difficult months ahead. However, at minimum, we must understand that these extraordinary support measures will allow us to overcome the crisis as soon as the health situation is favorable, by laying the foundations for a more robust economy and therefore keeping public accounts on track to be coming balanced in the face of a substantial debt burden.