February 20, 2023
After a weaker start to the year, the European Commission has increased the growth forecast for the Portuguese economy to 1% this year in the hopes that the second quarter will show progress.
Following growth of 6.7% in 2022, Brussels projects a slowdown in GDP growth to 1% this year in its winter economic projections, which were released.
In comparison to the November report, the outlook reflects an increase of 0.1 percentage points (pp) and 0.3 pp for 2022 and 2023, respectively. However, it falls short of the government’s prediction for this year, which calls for a 1.3% growth.
Source: Portugal News
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