In the latest October “World Economic Outlook” Report the International Monetary Fund updated its forecasts for the Portuguese Economic growth.
According to the new projections, Portugal’s GDP should rise 2.5% this year 2017, compared to 2016. In 2018 the Domestic Product is expected to rise by 2%. These new set of numbers are a significant increase compared to the last report issued in April, which foresaw an annual growth rate of just 1.7% for 2017 and 1.5% in 2018. According to this new estimates, the Portuguese Economy will likely grow at a faster pace than the Eurozone average, which will see a 2.1% growth in 2017 and 1.9% in 2018.
This new set of forecasts are very similar to the data published by Portuguese Central Bank last week. These estimates made by the Fund reinforce the trust in the Portuguese Economy and in its growth prospects.