The Portuguese economy is expected to grow by 1.9% this year and 2.3% in 2025, predicts the International Monetary Fund (IMF), in the World Economic Outlook report published this Tuesday. more optimistic projections than those of the Portuguese Government.
In the State Budget proposal for 2025, the executive estimates a growth in the Gross Domestic Product (GDP) of 1.8% in 2024 and 2.1% in 2025. The forecasts, therefore, remain unchanged compared to those recorded in the final article IV report, published earlier this month, when they had been revised downwards compared to July (when the IMF estimated 2% growth this year).
In its World Economic Outlook, the IMF also offers a five-year projection, to 2029, when it notes that the GDP will grow by 1.9%. The document also includes quarterly projections, which point to year-on-year growth of 2.4% in the fourth quarter of 2024 and 2.3% in the last quarter of 2025.
It should be noted that the projections for this year “are based on the budget approved by the authorities, adjusted to reflect the macroeconomic forecasts of the IMF technical staff.” “Later projections are based on the assumption that policies will not change,” the IMF emphasizes, while projections for 2024 “reflect the information available in the 2024 budget proposal.”
According to these forecasts, Portugal will continue to grow faster than the eurozone economy, which the IMF projects will grow by 0.8% in 2024 and 1.2% in 2025, with countries like Germany weighing down performance. Now for him inflationThe IMF estimates that the rate of variation of consumer prices in Portugal slow down to 2.5% this year and 2.1% next. Regarding unemployment, the organization foresees a rate of 6.5% in 2024 and 6.4% in 2025.
Source: Observadora
