The European Commission has today revised upwards its projection for growth in Portugal’s gross domestic product this year, to 2.4% – the third-highest rate in the euro zone and a lot more optimistic than the government’s current official forecast of 1.8%. In its spring economic forecasts, the European Union executive cited strong growth in tourism as the reason for its optimism (in February, it had rated Portugal’s growth perspectives at only 1%). The new forecast puts Portugal joint third with Greece in the euro zone in terms of GDP growth, only surpassed by Ireland (5.5%) and Malta (2.4%).
European Commission upgrades Portugal’s 2023 growth forecast
