Madeira will not be affected by a recession in 2023 as long as the tourist flow remains high, said the president of the Regional Government today, stressing that the forecast for national growth of 1.3% is positive for the region.
“Yesterday [Friday] it was announced that economic growth for the next year would stand at 1.3% nationally and that inflation would stabilize at 4%. us”, declared Miguel Albuquerque.
The official was speaking on the sidelines of a visit to the works of two streams in Santo António, on the outskirts of Funchal, where he commented on the forecasts of the Government of the Republic, which projects growth of 1.3% for next year, a deficit of 0.9% and inflation of 4%, with a reduction in debt to 110.8% of Gross Domestic Product (GDP).
“If we manage to have a good tourist year, we will not have a recession here in Madeira. We will be able to maintain the level of growth”, he said, stressing that, at least until December, “things are stabilized”.
Albuquerque, who leads the PSD/CDS-PP coalition Regional Government, explained that the main variable to take into account in terms of the regional economy is the maintenance of the tourist flow.
“Until December, the prospects for Madeira, given the bookings and indicators, are good”, he reinforced.