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Topic

Portugal's economy

Portugal plans to give COVID shots to 20-year-olds in August

Portugal plans to give COVID shots to 20-year-olds in August

Published 01 Jun, 2021 07:03pm
  • The announcement by Henrique Gouveia e Melo came after health authorities said last week those aged 40 or older will be inoculated from June 6 and those aged 30 or older from June 20.
  • Vaccinations of 30-year-olds should be completed by the end of July, Gouveia e Melo said. "At that stage, we will start vaccination of people over 20."
Portugal's economy shrinks 3.3pc in Q1 after coronavirus lockdown

Portugal's economy shrinks 3.3pc in Q1 after coronavirus lockdown

Published 31 May, 2021 07:52pm
  • To fight a surge in COVID-19 infections in mid-January, which at the time was the deadliest outbreak per capita in the world, Portugal imposed a strict three-month lockdown, which has since been gradually lifted.
  • "GDP decreased by 3.3% (...) reflecting the impact of mobility limitations as a result of the worsening of the pandemic crisis...(and a) severe reduction of non-resident tourism," INE said in a statement.
Portugal's airline TAP posts $1.2bn euro 2020 loss as COVID-19 stifles travel

Portugal's airline TAP posts $1.2bn euro 2020 loss as COVID-19 stifles travel

Published 22 Apr, 2021 07:33pm
  • The airline received a 1.2 billion-euro rescue loan in 2020 from the state, which holds a 72.5% stake, allowing it to keep operating and end last year with a cash position of about 520 million euros, TAP said.
  • It is the third year in a row the airline has posted a loss, after ending 2019 in the red by 95.6 million euros.
'Time to move forward': Portugal eases COVID-19 lockdown

'Time to move forward': Portugal eases COVID-19 lockdown

Published 05 Apr, 2021 06:26pm
  • "This lockdown was more painful but it is positive we are reopening," said the 30-year-old. "It's the best day: the restart. It's time to move forward and I hope we will not need to take a step back."
  • At Lisbon's Lemonfit gym, coordinator Joana Silva, 33, was delighted to help people get back in shape after more than two months of lockdown.
Moody's lifts Portuguese banks' outlook on economic recovery prospects

Moody's lifts Portuguese banks' outlook on economic recovery prospects

Published 01 Apr, 2021 07:18pm
  • Portugal's tourism-dependent economy shrank 7.6% in 2020 in its worst contraction since the 1930s. Moody's pointed to expectations of 3.7% and 4% growth in 2021 and 2022, respectively.
  • Moody's said banks' capital position was expected to hold steady, suffering "little change" over the outlook period and lenders would, for the most part, be able to avoid losses that could hurt capital.
Hit by third COVID wave, Portugal sees 2021 deficit exceeding goal

Hit by third COVID wave, Portugal sees 2021 deficit exceeding goal

Published 26 Mar, 2021 07:30pm
  • Joao Leao said "an unprecedented increase in spending" to support companies and employment was behind last year's deficit of 5.7%, which came after the first surplus in at least four decades reported in 2019, of 0.1%.
  • The budget gap, however, ended 2020 below the government's initial estimate of 7.3%.
Portugal's jobless numbers jump nearly 37pc, worst since 2017

Portugal's jobless numbers jump nearly 37pc, worst since 2017

Published 22 Mar, 2021 07:15pm
  • The total of those officially without a job rose to 431,843 people, meaning more than 116,000 jobs have been lost since February 2020, a month before the pandemic hit.
  • In the southern Algarve, famous for its beaches and golf courses but now nearly deserted, the number of registered jobless spiked 74% to 33,458 last month from a year ago, making it the most affected region followed by Lisbon.
Portugal to quarantine travellers from South Africa via other countries

Portugal to quarantine travellers from South Africa via other countries

Published 20 Mar, 2021 09:46pm
  • Direct flights from South Africa have already been halted and although few cases of the COVID-19 variant first detected in South Africa have been diagnosed in Portugal so far, the measure was intended to prevent any further spread, the ministry said.
  • Flights to and from Brazil and Britain have been suspended until the end of the month, also to prevent contagion of COVID-19 variants. Passengers arriving through a different country must also test and quarantine.
Portugal's tourism sector slumps back to 1980s levels amid pandemic

Portugal's tourism sector slumps back to 1980s levels amid pandemic

Published 15 Feb, 2021 07:07pm
  • The National Statistics Institute (INE) said just under 4 million foreign tourists stayed in Portuguese hotels in 2020, a near 76% slump from a record 16.4 million in 2019.
  • Overnight stays by Britons, one of the country's biggest foreign markets, fell by over 78% from a year ago.
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