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According to the Bank of Portugal’s December 2013 issue of its Winter Economic Bulletin, 2014 is likely to see an inflection in the Portuguese economy’s growth curve. After a 3 year period of negative growth, domestic GDP is expected to grow 0.8% by the end of this year, followed by further growth of around 1.3% in 2015.
Forecasts for an economic upturn are based on a slight recovery in domestic demand, fuelled by a combination of the positive evolution of private consumption in 2014 and higher imports. There will also be a general improvement in the balance of trade over the next few years, with export growth forecast to continue. The Winter projections incorporate the fiscal consolidation measures provided for in the State Budget for 2014 with more moderate risk forecasts in comparison to past issues of the bulletin.
Source : Cushman & Wakefield
