Portugal’s economy sees lower growth than government projections

8 September 2014

Portugal’s economy is expected to grow by just 0.8 percent in 2014, lower than the rate of 1.0% included by the government in the Revised State Budget, according to the Technical Unit for Budgetary Support (UTAO).

The technicians from UTAO, an agency that supports Portuguese MPs, said that to reach the end of the year with an economic growth rate of 1 percent the average rate of economic growth in the last two quarters of the year has to be 0.5 percent .

However, cited by the Portuguese press UTAO said recent history showed that the last few months of the year have, as a rule, seen growth of just 0.14 percent

A drop in the rate of unemployment will depend on a reduction in the size of the active population of 0.6 percent for unemployment to fall to the 14.2 percent estimated by the government. (macauhub/PT)