Bank of Portugal ‘more pessimistic than government about country’s economic recovery

Portugal’s central bank is more pessimistic about the country’s economic recovery next year than the government. Say reports, the Bank of Portugal forecasts a 3.9% growth of GDP whereas the Ministry of Finance is working with 5.4%.

Both have come up with different forecasts for Portugal’s economic contraction this year as a result of the pandemic: the government suggests a dip of 8.5%, the bank 8.1%.