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Domingos Cruz, Managing Partner of CCA Law Firm, in statements to Jornal Económico, analyses the difficult path for Portugal's recovery and suggests solutions for the country to overcome the unexpected crisis it is experiencing, caused by COVID-19. Trust, support, investment, and innovation are some of the ingredients seen as essential for a rapid and robust recovery.
"The Portuguese economy is not exactly a model of rapid and robust recovery, for well-known reasons. Yet in a year marked by the Pollyanna syndrome, I would say that the Portuguese economy will be capable of a rapid and robust economic recovery if it succeeds in reaching two basic assumptions, one highly objective, the other purely subjective, i.e. liquidity and confidence. Therefore, on the one hand, cash liquidity in companies, especially in SMEs and technology companies. Not only to cope with cost structures, which are generally inelastic but also to be able to invest in new markets and business areas. On the other hand, a huge dose of confidence in entrepreneurs and decision-makers, which allows them to look at the current opportunities that the market offers and not to be afraid to invest, with the certainty that tomorrow will be much better", says the Managing Partner of CCA.
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- Jornal Económico