... IMF's lack of alignment between speech and action. Lagarde has been saying (and I agree with that statement) that we should be cutting on unnecessary spending while driving strategic growth (2 things that we are still to do in Portugal), but then the policy it is following in Portugal is very different (to raise taxes in income). We should be shifting the focus from income tax raising (that will impact savings and internal consumption) to Public Administration simplification (we need to do a lot more on this), solve public companies structural inoperance (namely in the transports sector) and understand our growth model for the next 20 years. If we don't do this, the (needed) austerity policy will crumble soon.
http://economia.publico.pt/Noticia/fmi-alerta-que-austeridade-pode-tornarse-socialmente-insustentavel--1571717
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