One of the questions that people ask us the most is, “how is the economy doing in Portugal?” This is an important question because one of the ways to use to get to know a people and a culture is the way people live in that country.
Portugal was not ready for the crisis that came in 2008. As a result, the country almost went bankrupt (they also call it going into default) and had to be put under a bailout program. The situation was very similar to that of Greece with several people calling for these countries to leave the number of those countries using the Euro as their currency. As a result of the bailout program, taxes went up, salaries and pensions were cut and unemployment grew even more. Portugal is still using the Euro as their currency.
Here are some facts to let you understand a little bit more about the Portuguese economy:
- The average salary in Portugal is less than 1000$ a month.
- Taxes and Social Security gets automatically taken from the paycheck (there are different levels, but for a salary of 1000$ a month it is at least 22%).
- Sales tax for most products is 23%.
- The price of gas is more than 8$ a gallon.
Questions About Portugal: How is the Economy Doing? http://t.co/9nTT9lvrZT
The second point is wrong, If you get 700€ per month (~1000$), which is what the majority get, you will pay in taxes 132.49€ (thats 11% social security plus 7,5% for IRS plus 3.5% of undertaxe) total is 22%
Thank you so much for your comment. I have corrected the information on the post. By the way, I am a Warriors fan since day one! All the best for you.
I myself believe that the Euro is a currency that is not at all blessed by the Lord God. It is also not the will of God that something like a a single currency came into being because the purpose of the Euro is none other than forcing a political union of the EU for it is obvious that rich and poor countries together are not able to handle the same currency. Everybody knows that. That goal can only be achieved by a political union of the EU which is in my opinion the experiment of the world government to come. The only world union blessed and accepted by the Lord God is the 1000 year Government of Christ.
Thank you, my friend for the comment. Lets just say that it was not a good day for me when the Euro came. Thank you for the comment.