European Commission says Portugal’s economic progress ‘very impressive’

Portugal’s economic progress is “very impressive” with growth on target to reach 2.5 percent this year, according to Pierre Moscovici, European Commissioner for Economic Affairs.

Mr Moscovici’s assessment was made at a press conference after meeting Portugal’s Prime Minister Antonio Costa in Lisbon, Lusa reported.

Portugal’s priority should be turning “this recovery into a lasting growth”, which is possible given the increase in exports and the boom in tourism, he said.

The budget deficit should remain at about 1.8 percent of gross domestic product, Mr Moscovici reportedly said.