On Tuesday, the National Institute of Statistics (INE) releases a brief estimate of gross domestic product (GDP) growth in 2023, with economists consulted by Lusa expecting growth close to the 2.2% level projected by the government.
According to economists consulted by Lusa (BPI, Santander, Banco Montepio and Millennium bcp), the Portuguese economy grew by 2.1–2.4% in 2023, supported by private consumption and exports, but the figure was lower in 2022 6.8%.
In the proposed government budget 2024 (OE2024), the Ministry of Finance forecasts Portugal’s economy to grow by 2.2% in 2023, in line with forecasts from the Public Finance Council, the European Commission and the Organization for Cooperation and Economic Development. (OECD).
The International Monetary Fund (IMF) forecasts the rate at 2.3%, and the Bank of Portugal (BdP) at 2.1%.
Among economists consulted by Lusa, expectations for the evolution of GDP in the final quarter of the year range at an annual rate of 1.2% to 2% and on a continuum between 0.6% growth and 0.1% contraction. .
In the third quarter of this year, GDP grew by 1.9% year on year and registered a quarterly contraction of 0.2%.
In 2022, Portugal’s economy grew by 6.8%, with private consumption increasing by 5.6%, investment by 3% and exports by 14.4%.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.