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Portugal's 2015 economic growth forecast revised up
(MENAFN) Official forecasts released by the European Commission (EC) revealed that Portugal's economic recovery is gathering momentum this year, Xinhua reported.
The European Commission said it revised upward its forecast for the Portuguese economy this year to 1.6 percent of GDP, in line with the government's forecast, following 0.9 percent growth in 2014.
The Brussels-based commission also slightly improved its forecast for the country's 2015budgetary deficit, which is expected to stand at 3.1 percent, 1 percent lower than its forecast in February.
"Economic growth is gathering momentum in Portugal thanks to improved domestic demand and strong exports," the commission's Spring Economic Forecast reads.
The European Commission said it revised upward its forecast for the Portuguese economy this year to 1.6 percent of GDP, in line with the government's forecast, following 0.9 percent growth in 2014.
The Brussels-based commission also slightly improved its forecast for the country's 2015budgetary deficit, which is expected to stand at 3.1 percent, 1 percent lower than its forecast in February.
"Economic growth is gathering momentum in Portugal thanks to improved domestic demand and strong exports," the commission's Spring Economic Forecast reads.
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