IMF increases forecast for Portugal’s GDP growth in 2006 to 1.2 percent

14 September 2006

Lisbon, Portugal, 14 Sept – The International Monetary Fund (IMF) has raised its forecast for Portugal’s economic growth in 2006 to 1.2 percent, according to the IMF’s Fall forecasts published Thursday.

In its World Economic Forecasts report, the IMF said it expected the Portuguese economy to grow by 1.2 percent this year, or 0.4 percentage point more than it forecast in April, in its Spring forecasts.

This rate is half of the rate the IMF expects for the Euro Zone, with Portugal diverging in real terms from single-currency countries for the fifth consecutive year.

This trend is expected to continue in 2007, with the IMF maintaining its projection of 1.5 percent growth for the Portuguese economy, or 0.5 percentage points less than the Euro Zone average. (macauhub)