Portugal’s strong labour market is preventing a stagflation scenario at a time when inflation limits investment, Bank of Portugal Governor Mario Centeno said on Wednesday.
Centeno spoke at the annual meeting of the Portuguese Diaspora Council in Cascais.
“It is necessary to resume investment levels”, said Centeno, pointing to investor confidence having not “yet recovered since the start of the war”.
While confidence recovered quite quickly following the start of the pandemic in 2020, Centeno pointed to confidence not having recovered since the war in Ukraine since “bombs are heard more than the spread of the virus”.
“We are still at very low levels of confidence,” he added.
(Jorge Faria de Oliveira | Lusa.pt)
Source: euractiv.com
