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Business Daily: Austerity in Portugal

Austerity in Portugal

04/06/2015

BBC World Service - Business Daily, Austerity in Portugal

After economic crisis and bailout, Portugal is growing again. So was austerity worth it?

After economic crisis, bailout and spending cuts, Portugal's economy is growing again. So is Portugal proof that austerity works? A special report from the capital Lisbon.

After economic crisis, an IMF bailout and years of spending cuts, Portugal's economy is growing again. So is Portugal proof that austerity works? We have a special report from the capital Lisbon. Tanya Beckett speaks to some of the tech start-ups riding a wave of optimism among some young Portuguese about the prospects for the economy. But she also hears from economists who warn that the positive economic data hides deeper problems of soaring youth unemployment, and poverty among the lowest paid. She also visits a food bank, one of a network upon which one in 25 Portuguese now rely. And with elections due later this year the BBC's Lisbon correspondent Alison Roberts reports on how the legacy of austerity might play a role in the polls. 

(Photo: Trams in Lisbon. Credit: Jasper Juinen/Getty Images)

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