The governor of the Bank of Portugal (BdP), Mário Centeno, considered this Tuesday, in Lisbon, that the economy has been surprising and that we must live up to that surprise, boosting its growth.
The economy, in recent years, we have been positively surprised and we have to live up to this surprise and be able to act, to boost this growth, which comes from incentives”, said Mário Centeno, at the opening session of the first meeting of Portuguese Regulatory Entities, in Lisbon, dedicated to the topic “10 years of the regulatory bodies framework law — what future?”.
For the former Minister of Finance, respect for institutions, together with education, are the pillars of development of modern economies and societies.
The economy is currently “more demanding”fruit of the productive potential “of increasingly educated generations capable of taking Portugal to higher levels,” he said.
Centeno attributes economic “success” to the improvement of schooling in Portugal
Centeno also defended that all regulators played a role in the evolutionary process of regulation in Portugal, which has taken place in the last decade, adding that the BdP will continue to work to help the current institutional framework “better serve the interests of Portugal”. .
The head of the Portuguese financial supervisor also said that the sanctioning power of the BdP has an important deterrent role, and, in its operation, regulation is a requirement to intervene “with more quality and in more time.”
Business profit margins threaten “glass half full” that Centeno sees in the economy
Mário Centeno also highlighted the “irreplaceable role” of the BdP in promoting the economic and financial education of citizens.
“The conscious and informed action of economic agents is also a way of regulating markets. Our role has been crucial for people to have access to complete information about the Portuguese and European economy”, she concluded.
Source: Observadora
