Portugal: GDP to grow 2.5% this year – UTAO

Page created: Friday, 2 June 2017 14:41 GMT

Economic Growth  GDP   UTAO

Lisbon, June 1 (Lusa) – If economic growth in the next three quarters is in line with government projections in the Stability Programme, Portugal’s gross domestic product (GDP) will grow by 2.5% this year, the Technical Budget Support Unit (UTAO) said on Friday.

In a statement on budget execution to April, to which Lusa had access son Friday, UTAO takes into consideration figures already released by the National Statistics Institute (INE) for the first quarter of GDP growth of 2.8% on year and 1.0% against the previous quarter.

According to UTAO, “if the remaining quarters of 2017 post no variation, annual GDP growth will be 2.0%,” or 0.2 percentage points higher than the government projection.

However, if growth in the next three quarters is as outlined in this year’s Stability Programme, “GDP growth in 2017 will likely be around 2.5%.”

The parliamentary budget support unit also estimates that economic growth will only be in line with the government’s projection, “if there is a contraction of around 0.2% in each of the next three quarters.”