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Public finances | Teodora Cardoso: Public debt increase in May "not relevant"

The president of the Public Finance Council (CFP), Teodora Cardoso, today devalued the increase in public debt in May, which occurred due to a high loan for depreciation, stating that the main thing is to continue reducing the deficit. ] "It's nothing special," said Teodora Cardoso in the '30 Portuguese, 1 country' cycle of talks held in Lisbon today, because "what happened was that although the deficit had dropped considerably, it was necessary to write off debt

Maastricht's public debt reached € 250.3 billion in May, a new record high, the Bank of Portugal said on Monday. is relevant, "said the economist, adding that the Public Debt Management Agency (IGCP) seeks to have a reserve that it can use without having to go to unfavorable markets.

For Teodora Cardoso, "the key is that deficits go in the right direction: reduce and eliminate", while reducing not only the stock of debt, but also the debt ratio as a percentage of GDP

Questioned believe that it will be possible to have surpluses from 2020 onwards, the economist has maintained the projection of the PIC, but "with some conditions that depend very much on the international framework."

"If the international level goes well, if we remain competitive as we have been, it is possible, "he said.

19659003] Teodora Cardoso also said that she sees no risks in the need for a new adjustment program, considering that Portugal "learned the lesson" and that "things are going well."

Still, the economist considered that there are " serious risks, "especially international ones, that are" in the madness of others, "pointing out that" everything that happens in the United States takes the rest of the world behind. "

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