Overview
COVID-19 pandemic had a dismal economic effect, dragging Portugal into a forecasted GDP decrease of 8.9%, according to Oxford Economics, in FY20. Unemployment growth and fall in income, have slowed down consumption, while 50% of companies have recurred to government support measures.
Yet not everything is grim. Low interest rates and credit moratorium have maintained real estate prices in Lisbon and Porto, and an aggressive projected recovery in FY21 offer hope in relation to Portugal’s future.
