Print Edition - 2018-10-13  |  Money Digest

Bank of Portugal forecasts 2.3pc growth for 2018

LISBON

Oct 13, 2018-

The Bank of Portugal expects the Portuguese economy to grow at a rate of 2.3 percent in 2018, it announced in its quarterly statement on Thursday. “The Bank of Portugal’s forecast for economic growth remains the same as in June’s economic bulletin, but with amendments to various components: exports and gross fixed capital formation is revised down, while private consumption is now placed higher,” read the bank’s statement. Improved private consumption expectations are related to improved job prospects. The central bank predicted 7 percent unemployment by year end, compared to its 7.2 percent forecast in June. The bank thus revised up its forecast for annual private consumption growth to 2.4 percent from 2.2 percent in June. (XINHUA)

Published: 13-10-2018 09:05

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