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Pedro Reis argues that it is “very important to see the bank being robust”

The Minister of Economy, Pedro Reis, defended this Wednesday that it is “very important to see the banking system robust” and considered that the public sector must be “better paid” to seek talent. Pedro Reis was speaking at the parliamentary committee on Economy, Public Works and Housing, as part of the regulatory hearing.

In response to Chega, the government official said that, from an economic point of view, it is “very important to see robust banking”. Especially because “there is no healthy economy without a calm bank”, highlighted the minister. In this sense, “it is good to feel that the banks are strong because this creates a strong economy”, he continued.

Regarding high salaries in the public sector, Pedro Reis considered that this is a topic that one day has to be debated. “These are not cases where people pay high in the public sector”, but rather the “public sector has to be paid better to look for talent”, he argued. “On that day we are protecting the State”, he concluded.

Questioned by the Liberal Initiative (IL), the minister said he did not plan on the horizon to “do an audit of what happened at Efacec”, but rather focused on monitoring the operation that is underway. In his intervention, Pedro Reis said that he did not know “if he would have intervened” in the company. The government official said that in a few days InvestEU received around 1,500 applications for financing worth 500 million.

In a hearing that lasted around three and a half hours, the minister responded to various questions from the deputies, namely about paying the State within 30 days and creating jobs. Regarding employment, he stated that Portugal is faced “with the demographic winter and intense competition” for Portuguese talent. And he warned: “If we don’t take care of human capital”, everything else “is not enough”.

Regarding the 30-day payment, he considered it to be “really” transformational, “particularly for SMEs and micro companies. Especially because the issue of “pressure on the treasury is still too high in Portugal”, he said. to “activate” an instrument that “unlocks a lot of energy from companies”, as “the highest role of the State is to pay on time”, he concluded.

As for the four-day week, Pedro Reis said that this is a topic that “is already under discussion” and that it is necessary to monitor what other countries are doing on this topic. This topic will have to be the subject of a serious discussion and the Ministry of Economy will make its contribution. He also defended the need for more financial literacy. “The sooner financial literacy is introduced, the more we protect the future”, defended the Minister of Economy.

As for the Mobilizing Agendas, the government official said he believes in the design, but it is necessary to “ensure good execution and good implementation”, and there will be an observatory on this matter. Pedro Reis defended the need to bring culture “closer” to the economy, giving the examples of creative industries and film industries, which can bring quality investment.

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Francesco Giganti

Journalist, social media, blogger and pop culture obsessive in newshubpro

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