Aveiro, Portugal, Oct. 9, 2025 (Lusa) – The minister of the economy and territorial cohesion, Castro Almeida, has predicted that Portugal's gross domestic product (GDP) per capita should reach the European average in 20 years.
During the inauguration of a luxury catamaran boat factory in Aveiro, Castro Almeida said that Portugal should come within almost three percentage points of the European average in the next three years, based on projections released by the Bank of Portugal on Tuesday.
"If the Bank of Portugal's projections are correct, in three years, we will be approaching the European Union average by almost three percentage points. That would mean going from 82% of the average per capita income we had last year to 85% of the average per capita income," said the minister.
According to this data, Castro Almeida predicts that it will take another 20 years for the country to reach the European average.
"I confess that I would already be very happy, but I also would not like to die without seeing my country reach the European Union's average income. I am not asking for more, I would just like to reach 100% of the European average. I think it's a good goal for us to achieve as a country," he said.
The minister was speaking on Wednesday during the inauguration ceremony for the new Catana Group Portugal industrial unit in Aveiro, which represents an investment of around €40.7 million, with a state contribution of just over 10%.
Castro Almeida said that companies such as Catana Group choose Portugal for its socio-political stability, stable business environment and the good macroeconomic conditions that the country currently offers.
"When we turn on the television, we see so many misfortunes, so many accidents and so many arguments that we forget that Portugal is growing well above the European average, inflation is under control, unemployment is almost non-existent and Portugal has balanced public accounts, which is a huge advantage over other partners," he noted.
The minister also said that these results "reflect a responsible economic policy, but also increased competitiveness among companies, because it is companies that will generate economic growth."
On the same occasion, the president of the French group, Aurélien Poncin, expressed his surprise at how quickly this project was carried out.
"I have to say that I am surprised at how attractive Portugal is for a new venture. Two years to buy the land and build a 25,000 square metre factory is incredible. In France, a project like this would have taken five or six years to get off the ground," he said.
Catana Group Portugal, which currently has 138 employees, expects to exceed 500 workers within four to five years. In terms of production capacity, the goal is to reach more than 300 boats/year within four to five years.
The new facility, which was inaugurated on Wednesday, occupies an area of around seven hectares in the southern terminal of the Port of Aveiro and also has a berthing quay covering around half a hectare.
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