The Forum for Competitiveness has warned today that GDP growth in the second quarter was lower than expected, making it “unfeasible to achieve growth of 2% for the whole of 2024”, as finance minister Joaquim Miranda Sarmento has estimated. According to the Forum for Competitiveness’s Outlook Note, “The worse-than-expected result for the second quarter, coupled with a weak start to the third quarter, casts a shadow over the rest of the year”. According to the flash estimate released by Statistics Portugal (INE), the Portuguese economy grew by 1.5% in the second quarter of 2024, year over year, and by 0.1% compared to the previous quarter. These figures were below the estimates of economists who projected year-on-year growth of between 1.7% and 2.2% and quarter-on-quarter growth of between 0.3% and 0.8%.
GDP growth of 2% this year ‘unfeasible’ – economists
