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Corvo ,  March 26, 2019

Wealth generation in the Region increased by more than 600 million Euros in four years, says Vasco Cordeiro

The President of the Regional Government stated on Corvo Island that the series of investments channelled to this island clearly reflect the "significant evolution" in the economic revitalisation of the Region in recent years.
"This evolution is evident on each island with the completion of investments and the economic revitalisation of the Region.  Even today, we received information evidencing that the wealth generated in the Azores has grown more than the wealth generated in Mainland Portugal," said Vasco Cordeiro, who spoke after the meeting between the Government and the Island Council.
According to the Regional Quarterly Accounts published Monday by the Azores Regional Statistics Service (SREA) on the year 2018, the estimated growth of the Gross Domestic Product (GDP) of the Azores stood at 2.3% in terms of volume and at 4.04% in terms of value, reaching 4,295 million Euros.
Speaking to journalists at the end of the first day of the statutory visit to Corvo, the President of the Government pointed out that these data are the result of policies designed and implemented to promote economic development as well as of the confidence of entrepreneurs and workers on these measures.
"We are talking about 600 million Euros more of wealth generated in our Region.  We are talking about a nominal growth of about 16 percent in four years. This is particularly significant for what it means, not just for a specific year - 2018 - but for being the fourth consecutive year in which there is a growth above two percent in terms of wealth generated in the Azores," said the President of the Government.
According to Vasco Cordeiro, this statuary visit takes place at a time when a significant number of investments are nearing completion, such as the expansion works of Casa Port, the interventions in the island's aerodrome and the improvement of Home Support Services of "Santa Casa da Misericórdia" of Corvo (social solidarity institution).
The President of the Government also stated that the meeting with the Island Council also addressed a series of matters, namely the extension of the summer time period in the maritime links with Flores Island, which begins on June 1 and ends on September 30.
Moreover, he emphasised the importance that the Government attaches to these meetings with the Island Councils as far as they are an opportunity for the Government to explain the meaning of its options and, simultaneously, to collect the contributions from the members of the Council.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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