The NECEP / CEA – Católica Lisbon revised its growth forecast for the Portuguese economy, anticipating that the country’s GDP will grow on average 1.9% this year. “The performance of the national economy in 2015, in a domestic context of budgetary passivity, depend on developments in the euro area and the price of oil”, said the institution in its conjuncture’s quarterly sheet.
“Faced with the uncertainty of the quantification of the impact of oil price decline in GDP, the NECEP increased the width of the interval associated with this forecast”, estimating that it could range between “1.1% and 2.7%, with the lower limit in line with current growth prospects for the Eurozone in 2015 “.
The NECEP also believes that the “Portuguese economy seems to have entered in a period with a modest but positive growth trend”.
