This Thursday, the Prime Minister said that the European Commission’s (EC) economic forecasts show “good signs of confidence” in Portugal, highlighting the above-average growth of the eurozone economy expected over the next two years.
“Good signs of confidence. The European Commission’s forecasts confirm that Portugal will continue to grow above the EU average. [União Europeia] and the eurozone in 2024 and 2025,” wrote António Costa on the social network X (formerly Twitter).
The EC 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 EU average.
However, in these 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).
Reacting to these forecasts, António Costa emphasized that even in the context of external uncertainty, “employment and wage growth ensure the convergence of Portugal.”
The community leader forecasts Portugal’s gross domestic product (GDP) growth will increase from 2.3% in 2023 to 1.2% in 2024 and 1.8% in 2025, although in autumn forecasts he forecast growth in 2024 by level of 1.3%.
Brussels is more optimistic about inflation in Portugal, revising down its forecast to 2.3% in 2024 and 1.9% in 2025 due to falling energy prices and lower food price increases.
Author: Lusa
Source: CM Jornal
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