IMF Raises Portugal GDP Growth Projections to 1.7%
The International Monetary Fund (IMF) has raised its projections for the Portuguese economy in 2017, and now expects growth of 1.7% this year, compared to a previous projection of 1.1%, but slightly below the government forecast.
On Tuesday the IMF published its first 2017 edition of the World Economic Outlook, in which it updates growth projections for the world and several countries, including Portugal, for which the previous projection dates back to October 2016.
The Portuguese government has forecast growth for this year of 1.8%, according to the 2017-2021 Stability Program presented last week.
For 2018, the IMF expects Portuguese economic growth to slow to 1.5%, which is also less optimistic than the Portuguese government’s projection of 1.9% of GDP.
The IMF expects the unemployment rate to improve to 10.6% this year (compared to 10.7% previously estimated) and to 10.1% next year.
The Portuguese government expects unemployment to stand at 9.9% this year and to fall to 9.3% in 2018 and continue on a downward trajectory to 7.4% by 2021.
On Tuesday the IMF published its first 2017 edition of the World Economic Outlook, in which it updates growth projections for the world and several countries, including Portugal, for which the previous projection dates back to October 2016.
The Portuguese government has forecast growth for this year of 1.8%, according to the 2017-2021 Stability Program presented last week.
For 2018, the IMF expects Portuguese economic growth to slow to 1.5%, which is also less optimistic than the Portuguese government’s projection of 1.9% of GDP.
The IMF expects the unemployment rate to improve to 10.6% this year (compared to 10.7% previously estimated) and to 10.1% next year.
The Portuguese government expects unemployment to stand at 9.9% this year and to fall to 9.3% in 2018 and continue on a downward trajectory to 7.4% by 2021.
