Bank of Portugal says economic outlook for economy has improved

The central bank of Portugal has raised its long-term forecast for the country’s economic growth, Reuters reports.

According to its latest quarterly economic bulletin, The Bank of Portugal now expects the country’s economy will grow by 2.5 percent this year, up from the 1.8 percent growth in March.

The revised forecast sees the economy growing by 2 percent and 1.8 percent respectively next year and in 2019, compared with the March forecast of expanding 1.7 percent and 1.6 percent.

“The GDP forecast is revised upwards for all of the projected period, reflecting the vigorous dynamics of exports and investment,” the central bank was quoted as saying.