The Economist placed Portugal among “unlikely economic winners” in 2022

The British magazine specializing in economic affairs, The Economist, placed Portugal in second place in the list of “economic winners” of 2022, classifying the country as one of the “unlikely” winners. The ranking took into account GDP, inflation, the extent of inflation, stock market performance and public debt.

At the top of the list came Greece, with the publication denoting that “for the first time in a long time, the economic party is taking place in the Mediterranean”. “Other countries that plunged into the depths of the economy in the early 2010s, including Portugal and Spain, also scored highly”, the British magazine pointed out.

Factors such as the recovery of tourism and less dependence on Russian gas contributed to this performance.

The article starts by explaining that “In financial terms the past year has been bad for almost everyone. Inflation of 10% year-on-year across the rich world has slashed household incomes. Investors have lost out as global stock markets have plunged by 20%. Yet this poor aggregate performance hides wide differences: some countries have done pretty well”.

“To assess these differences, The Economist has compiled data on five economic and financial indicators — GDP, inflation, inflation breadth, stock market performance and government debt — for 34 mostly rich countries”. Each economy was ranked “according to how well it has done on these measures and created an overall score”.

Source: The Economist