The report presented today
by the Organization for Economic Co-operation and Development (OECD)
"exposes the failure of the socialist Government's goals"
and the reformist incapacity of the current executive.
"The executive and the current majority, reject any structural reforms,
failing growth targets, increase public and private indebtedness
and advance with a real project of economic reversion."
The report presented today
"advises the Government to continue the reforms
initiated by Pedro Passos Coelho,"
recalling that investment in Portugal fell in 2016,
after growth in the two previous years,
and predicts that unemployment will remain double-digit
over the next few years.
"The OECD notes that the current positive results
stem from the reform and action of the PSD / CDS Government
between 2011-2015."
"The reformist momentum has to continue in Portugal.
There is a lot to be done, and a lot of homework to be done,"
Angel Gurria said, adding that
" Not only the enormous public debt - but also the private indebtedness -
is very high and the banking sector remains very fragile"
Productivity in Portugal continues to be lower in comparison
with the average of the OECD countries.
"The low qualifications of the Portuguese workforce
not only hinders productivity, but also hinder equal income,"
he said at the OECD presentation in Lisbon.
For Gurría, "further reforms are needed to foster growth, ~
productivity and ultimately the well-being of the Portuguese,"
and identified "three priority areas" highlighted in the report
- the financial sector, investment and labour market qualifications."
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