Dollars have been making good sense in Portugal lately. This western European country has been making significant economic gains and last week, several positive economic gains were announced.<\/p>\n
The first announcement was that unemployment rates have hit a new low\u2014over 100,000 fewer people visited local job centres compared to this time last year, bringing Portugal\u2019s overall unemployment rate down to 8.5% in the third quarter. In particular, unemployment rates tumbled by almost 25% in the under-25 demographic. A significant change for a group that was amongst the hardest hit by the economic crisis. Portugal\u2019s current rate of unemployment has not been this low since 2008.<\/p>\n
But the good economic news didn\u2019t stop there. The European Commission positively revised its budget deficit forecast for Portugal in 2017 taking the rate down to 1.4% from the previous figure of 1.8%. Additionally, overall debt in relation to the GDP is projected to fall from 130% to 126%.<\/p>\n
While all of this bodes well for Portugal, it\u2019s also good new for those looking to invest. A strong economy, combined with a shrinking bureaucracy, and political stability all mean that Portugal makes good business sense. And on top of that, it\u2019s possible to gain residency in as little as 45 days<\/a>\u2014one of the fastest times in the entirety of the European Union.<\/p>\n