In a recent interview with Portugal’s Antena 1, the country’s Economy Minister Pedro Reis emphasized the critical importance of the next four to six months for the global economic landscape. Reis, who was present at the World Economic Forum in Davos, highlighted several key international factors that will shape the path forward.
Reis pointed to the inauguration of U.S. President Donald Trump, the ongoing conflict in Ukraine, the consolidation of the Gaza agreement, the ongoing tariff war, and the new European Commission and Draghi plan as crucial elements that will determine the direction of economic growth in the coming months.
The minister acknowledged that if the United States adopts a more protectionist approach, it will have widespread implications for all sectors, including European countries. Reis urged European nations to remain focused and pragmatic, stressing that the pace of history is accelerating, and Europe cannot afford to fall behind.
While the minister recognized the challenges posed by potential trade wars, he also revealed that there is growing interest from foreign companies, particularly in the technology sector, towards investing in Portugal. However, Reis admitted that some Portuguese companies, especially in the automotive industry, are facing significant difficulties, leading to factory closures and job losses.
Addressing the recent surge in fuel prices, Reis expressed uncertainty about the future trajectory, stating that the markets remain highly volatile. The minister also commented on the U.S. administration’s push for increased fossil fuel production, asserting that it does not necessarily indicate a slowdown in the transition to renewable energy.
This information was sourced from an article by Marta Pacheco for Antena 1, as reported by RTP, the public broadcaster of Portugal.
Source: RTP, Radio and Television of Portugal
Published by Newspot Nigeria
Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com
