IMF’s World Economic Outlook reduces growth forecast for Portugal

Following IMF director Christine Lagarde’s remarkable warnings about Brexit sending British expats returning in droves to UK, the institute itself has reduced its overall growth forecast for the Portuguese economy by 0.1%.

In November it predicted growth of 1.8% this year, levelling out to 1.5% in 2020 – now it predicts 1.7%.

The IMF also disagrees with Portugal’s own estimates for deficit reduction, and unemployment increasing them again by fractional degrees.

World Economic Outlook in the wider scope has “assumed concerns with growing commercial tensions, especially between the United States and China as well as with Brexit” and reduced global growth forecasts “to the lowest pace since the (financial) crisis”, says Bloomberg.