(14th August). Today’s main news headline : ‘Slowing Of The Crisis Surprises ACIF – The opinions were divided yesterday in the country on the meaning of the increase in PIB (GDP / Growth) of 0.3%. For the government, the economy came out of the ‘red’ and has arrived at the beginning of the end of the crisis. Economists advise prudency. For now, ACIF expect results from the improvement’. Despite the previous days expectation of a further negative showing for growth in the Portuguese economy (-0.6%), the actual result surprised everyone, with 0.3% growth, and matching the results also announced earlier for France and Germany. The President of the Commercial and Industrial Association of Funchal (ACIF) considers it a "good surprise" with the news announced yesterday, that the Portuguese economy is reviving, given the announcement of the increase of 0.3 percent in the Gross Domestic Product in the second quarter of this year. He says that the improvement will also be reflected on Madeira. Francisco Santos, also regional director of the Millennium / BCP bank, told the Diário that the positive figures released by the National Statistics Institute (INE), follow on from the announcements of economic recovery in some other countries of the Eurozone, especially Germany and France, whose statistics were also revealed this week.
It would normally go under ‘politics’ of course, but as it is another headline that directly relates to the headline above : "0.3% Is Zero Growth" – Jardim considers that the increase in PIB / GDP signifies nothing and is a "big fat economic failure". Unlike many reviews and opinions, Alberto João Jardim considers that the growth in the economy of 0.3% means nothing. Prime Minister José Sócrates guarantees that the figures show that Portugal is coming out of recession in a turn in the country’s economy. The president of the Madeira government has a different opinion : "0.3% is zero growth and is therefore a big fat economic failure" that doesn’t even pass for a "fantasy for cheap electioneering". Funny that Uncle Bertie mentions the subject of elections, as that means that for the forthcoming national elections the voters may well be cheered by the news, and decide to stay with a socialist government.
‘Unemployment Worsens In The Second Quarter Of 2009 – Rate hits 9.1%’. That’s up from 8.9% in the first quarter of 2009. The figures from the National Institute for Statistics released today show that unemployment in Portugal has risen by 1.8% in the space of a year. The bad news was above the governments prediction of 8.8%, and the average prediction of analysts contacted by the Diário. We just need to wait now for Uncle Bertie’s mob to provide the figures for Madeira, but we can already predict the reaction to the normally vastly understated figures, probably something like "?.?% is zero growth" from the man himself.
‘Help For The Rent – The number of interested parties in the support of IHM for the unemployed, without money to pay for housing, is growing’. 320 families are already interested in receiving assistance with their rent since the new scheme was introduced in April. The scheme, which helps those who find themselves unemployed and without sufficient money to pay their rent, has already attracted many contacts and applications through ‘Housing Investment in Madeira’ (IHM). Nearly all of the tenants in question are still receiving unemployment benefit, but when that runs out, and there is still no work, then the new scheme kicks in. Just three families so far have reached that stage. The maximum assistance per person is €175 a month, but if a couple of tenants living together both lose their work, this assistance can be doubled. It is paid for 12 months, but can be renewed at the end of that period if necessary.
In Transport & Tourism :
According to the TV news this morning, TAP, Portugal’s favourite airline, is really going through tough times at the moment as people cut back on travel and the competition begins to bite. It has announced fairly severe cutbacks, the more significant being a 10% cut back in flights next month. The president of TAP is said to be feeling the pressure in managing the company "due to the policy of trade unions in a year of elections". He made a statement to the media in reaction to the announcement of 4 days of strike action, by employees represented by 5 different trade unions, over the lack of a pay increase since last year. Madeira is one its most popular and well occupied routes, so maybe we will get off lightly in the cut backs. On the other hand it is now one of the stiffest routes for competition, so perhaps not.
‘DECO Accuses Easyjet Of Rejecting Complaints – The airline company that does connections to Madeira doesn’t accept complaints in Portuguese’. The consumer defence organisation DECO has accused Easyjet of breaking the law, because it is refusing to deal with complaints written in Portuguese. DECO has had several complaints from flyers, in connection with delays and baggage issues, where the complainant has been told they must complain in English, Spanish, German, French or Italian. Likewise, anyone ringing the company office in Luton, England, will be turned away as there are no Portuguese speakers. I guess DECO will get nowhere with this one, unless of course they write their own complaint in one of Easyjet’s acceptable languages.
‘Disney Cruise Line Promotes Madeira – The company website of Disney promotes the destination’. The cruise ship ‘Disney Magic’ is to visit us twice in 2010, with 2,400 tourists. The first time will be in the height of the flower festival (18th April), and then again in September. The Diário says that the Disney website is one of the most popular in the world, and the write up for Madeira could also also promote tourism here through means other than the Disney cruise ship.