Portugal’s gross domestic product (GDP) rose 1% to 2.1% year-on-year in the first quarter, according to the latest forecasts from several economists.
The National Institute of Statistics (INE) published on Tuesday data on the Portuguese economy’s growth in the first three months of the year, following growth of 2.1% year-on-year in the fourth quarter of 2023 and 0.7% quarter-on-quarter.
The Competitiveness Forum estimates Portugal’s economy grew 1-1.3% in the first quarter of the year compared with the same period last year and 0.3-0.6% overall, according to an economic note published in April.
In turn, the CIP/ISEG barometer estimates annual GDP growth at 1.7% to 2.1% in the first quarter and 1.1% to 1.5% in the next quarter, which is associated with increased industrial production, construction. and services.
NECEP – Católica Lisbon Forecasting Lab forecasts GDP growth of 1.2% in the first three months of the year compared with the same period in 2023 and 0.5% quarterly.
Portugal’s economy grew by 2.3% in 2023, driven by domestic demand, although at a lower level than in 2022, and 2023 still saw a slowdown in private consumption and investment, according to INE.
In the Stability Program for 2024-2028 sent by the government to Parliament, the Ministry of Finance forecasts (in the invariant policy scenario) the Portuguese economy to grow by 1.5% this year, in line with what is forecast in the state budget. for 2024 and a tenth lower than the macroeconomic forecasts of the Democratic Alliance (AD) in the pre-election program.
Author: Lusa
Source: CM Jornal
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