“Portugal will probably be one of the economies that will grow this year in the Eurozone, after Ireland, Germany and Belgium”, Morgan Stanley reported recently. The U.S. bank expects the Portuguese economy grow 1.4% this year and 1.6% in 2015, above the average of the euro area, according to its forecasts. The recovery of domestic demand, the latest data on exports and structural reforms of the state are the reasons that support these estimates, according to the agency.
However, the European Commission and the International Monetary Fund anticipate a growth of 1.2% for 2014, as the average of the Eurozone; and 1.5% in 2015. Moreover, the rating agency Standard & Poor’s estimates that the Portuguese economy grows on average 1.4% over these two years.
Nationally, the Bank of Portugal expects GDP to grow 1.1% this year and 1.5% in 2015.
[photo credit: Jorge Franganillo]
