Tearful farewells have become a common sight at Lisbon’s Portela airport.
Three years of punishing austerity and deep recession have triggered an exodus where an estimated 200 young graduates and other emigrants leave each day. But nearby, the airport’s busy cargo terminals andbustling shopping malls reveal less familiar aspect of the painful economic adjustment Portugal is making as part of a €78bn international bailout agreement: record levels of export growth and tourism have helped make the country the surprise
Year-on-year growth of 1.6 per cent in the final quarter of 2013 outstripped every other eurozone member, including Germany, while quarterly growth of 0.5 per cent, topped only by the Netherlands, shattered economists’ forecasts of only a 0.1 per cent increase.
Read more: Portugal the surprise hero of eurozone growth as exports and tourism prosper - FT.com
Three years of punishing austerity and deep recession have triggered an exodus where an estimated 200 young graduates and other emigrants leave each day. But nearby, the airport’s busy cargo terminals andbustling shopping malls reveal less familiar aspect of the painful economic adjustment Portugal is making as part of a €78bn international bailout agreement: record levels of export growth and tourism have helped make the country the surprise
Year-on-year growth of 1.6 per cent in the final quarter of 2013 outstripped every other eurozone member, including Germany, while quarterly growth of 0.5 per cent, topped only by the Netherlands, shattered economists’ forecasts of only a 0.1 per cent increase.
Read more: Portugal the surprise hero of eurozone growth as exports and tourism prosper - FT.com
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