Government believes in 6.4% growth in GDP this year

European Commission upgrades Portugal’s 2023 growth forecast

The European Commission has today revised upwards its projection for growth in Portugal’s gross domestic product this year, to 2.4% – the third-highest rate in the euro zone and a lot more optimistic than the government’s current official forecast of 1.8%. In its spring economic forecasts, the European Union executive cited strong growth in tourism as the reason for its optimism (in February, it had rated Portugal’s growth perspectives at only 1%). The new forecast puts Portugal joint third with Greece in the euro zone in terms of GDP growth, only surpassed by Ireland (5.5%) and Malta (2.4%).