Skills will drive inclusive economic growth in Portugal

Skills and human capital are the bedrock upon which Portugal is building a new bridge to growth.

Portugal is recovering from the most serious economic and financial crisis the country has experienced in recent history. The reform agenda over the past few years has been ambitious, comprehensive and challenging.

Awareness is now growing among policy makers, employers and households that Portugal’s future economic and social well-being will depend upon securing equitable and high-quality education and jobs while promoting innovation and entrepreneurship.

 

Portugal is on the road to recovery

Signs of Portugal’s recovery can be seen across the board. Youth unemployment and long-term joblessness rates are falling, even if levels remain too high. Job creation is picking up, and the majority of new jobs created in 2014 were on permanent contracts, which is a good indication that Portugal’s longstanding labour market dualism has been reduced by recent reforms. Educational attainment levels and learning outcomes are rising steadily, as reflected in Portugal’s PISA scores which now approach the OECD average. Measures have been introduced to stimulate entrepreneurship, and in 2014 Lisbon was selected as one of the European Entrepreneurial Regions (EER), in recognition of its strategies to promote entrepreneurship and spread innovation among small and medium enterprises (SMEs).

 

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