This Thursday, the European Commission highlighted the “robust employment growth” and the “high level” of economic activity in Portugal, discounting a small downward revision for 2024, part of a slowdown in the region’s gross domestic product (GDP). Euro.
“Of course there are problems, but we see strong growth in employment in Portugal and in general, […] The fact that the European Union has avoided recession is positive, as is the fact that some countries, such as Portugal, continue to record high levels of economic growth. [da economia]”said European Commissioner for Economic Affairs Paolo Gentiloni.
Speaking at a press conference in Brussels on the day when the institution predicted Portuguese economic growth of 1.2% in 2024 and 1.8% in 2025 in its winter economic forecasts, Paolo Gentiloni argued that the slowdown in the Portuguese economy is due to with “region-wide slowdown.”
Despite this, Portugal’s GDP “is still growing at a fast pace”, the head of the European watchdog said in response to Lusa’s questions.
Asked at the time about protests by EU farmers in countries such as Portugal, the European Economic Commissioner said he did not foresee “any supply chain disruptions on the horizon as a result of this situation.”
“As a Commission, we listen to the issues that come to us from farmers and take action,” concluded the person in charge.
The European Commission forecasts Portugal’s GDP will grow by 1.2% in 2024 and 1.8% in 2025, one-tenth less than this year but above the eurozone and European Union (EU) average.
However, in its winter economic forecasts, Brussels places Portugal among the single currency countries with the second-largest growth slowdown between 2023 and 2024 (1.1 percentage points), behind only Malta (1.5 percentage points).
The community leader forecasts Portugal’s GDP growth will increase from 2.3% in 2023 to 1.2% in 2024 and 1.8% in 2025, up from a 1.3% growth forecast for 2024 in the fall.
Also this Thursday, the institution revised downwards the growth outlook for the eurozone economy for the third time in a row: to 0.8% this year in the eurozone and 0.9% in the EU, “modest growth” that will recover in 2025.
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.