Newsletter by Fernando MINEIRO – FIRSTLOG – Lisboa PT 03/05/12

The absence of political decisions on developing the economy in Portugal have been almost a constant factor these past months.

The objective of the government is blindly cutting expenses, but the same cuts have been in salaries and pensions, not the actual government expenses, at least that’s what the general public feels.

The drawback of the AVE is one of the latest government decision on the economic development that took place, it seems that now the political interest is developing the harbor Portuguese operations, these rises the question of another project with no valued economic development, as the concurrence and investment that Spanish development for the Mediterranean corridor and new harbor in La Coruna will long term condemned all developing strategies and investments in the area of infrastructures in merchant rail systems.

It seems that we are domed (Portugal), as all the major economic projects are only on the reaction base and not on the long term perspective, no one learns with the Dutch people who are “playing” with all the aces on this matter.

A brief note on one fact that occur in Portugal in the 1st of May (personal view)

Pingo Doce, one of the major retailers of consumer goods offer this May the 1st a special promotion of 50% discount in all supermarkets (350) to whom have spend more that € 100,00 in goods, major political and social discussion have been made has the rush to the supermarkets was immense. Politics apart what I saw, was the desperation of the people that needed to have primary goods in their houses, as the recession is solid installed, passing the barrier of 15% unemployment this March.

 

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