Portugal’s Economic Response to COVID-19: Are We on the Right Path?

"In Portugal, experts estimate that there could e a drop in GDP of anywhere from 4 percent (the optimistic scenario) and 20 percent (the pessimistic view), depending on the interaction of several variables. Despite some initial resistance, countries’ response to the COVID-19 pandemic has been more or less consistent, focusing on social confinement, temporarily shutting down nonessential establishments, and closing geographic borders. This is the deepest and most wide-ranging crisis to have hit the global economy: The consequences are still unknown, but they will undoubtedly be serious, particularly for some industries like aviation and tourism.

Countries that have economies based in large part on the extraction and export of oil products will also face particularly significant effects. One thing is certain: We all know how the economic decline began, but nobody can foresee how it will end".

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