Showing posts with label António Costa. Show all posts
Showing posts with label António Costa. Show all posts

5 October 2017

Political Critique: Lisbon: the caravan documenting Portugal’s housing crisis

In the first two weekends of September, Il Salto, the Italian magazine and friends of Political Critique, followed the first six stops of this journey. What we saw provides a deep picture of the housing problems in a country at a crossroads between the austerity of previous years and new proposals of a left wing government, in a moment in which tourism is rapidly changing the face of both Lisbon and Porto. Meanwhile at the walls of the city there are people who still live in shacks, who run the risk of seeing themselves kicked out without any guaranteed alternative. [...]

It was a move from a small ghetto to a bigger ghetto. Now the inhabitants of Casal da Boba pay rent for apartments that in just a few years have began to present many problems, and lack basic maintenance. Not only this: the inhabitants feel discriminated against, simply for the fact of living in a neighbourhood stigmatised as “problematic”, a centre of crime and drug dealing. Police violence, as a result, has focused on people of African descent, as some recent episodes have unfortunately confirmed. [...]

The idea that tourism is the only economic resource that can save Portugal from the crisis is put to the test. For while tourism brings great wealth to big investors, it also offers salaries that are lower than in other industries. Precarity and underemployment are very concentrated in the city precisely where tourism has become dominant. What needs to be respected, the event concludes, is the ‘right to the city’: giving space to more sustainable and socially important sectors.

14 June 2017

Katoikos: Is Portugal on the path to solid economic recovery?

Costa’s left-wing government took power in October 2015, after ousting the Social Democrats (PSD) in coalition with the Popular Party (CDS-PP), following a censorship motion in parliament. Costa, the former mayor from Lisbon, vowed to reset wages and pensions as well as to reverse the austerity cycle that had pushed the country to its knees. Many deemed this coalition a failure, as it seemed, at first glance, unworkable – but significant progress has been achieved since the Socialist Party, backed by the left, took control over the country. [...]

According to the spring forecast released by the European Commission last week, “Portugal’s economic growth is set to rise further in 2017 before easing off in 2018. The labour market is also expected to improve with unemployment falling from 11.2% in 2016 to 9.2% in 2018. After turning out at 2.0% of GDP in 2016 the general government deficit is set to remain below 2% over the forecast horizon.” [...]

However, Portugal still carries a high general public debt as a proportion of GDP; it rose slightly to 130.4% in 2016, mainly due to higher issuance of government debt for the ongoing recapitalisation of the state-owned bank CGD. However, the ratio is forecast to decline to 128.5% in 2017 and to 126.2% in 2018, due to primary budget surpluses and continued economic growth.