Minister tips 2018 Portuguese GDP growth to top official forecast

Portuguese Economy Minister Manuel Cabral has said the rate of economic growth in Portugal this year could turn out to be faster than the 2.2 percent the government forecasts, because of strong inflows of investment and tourists, and strong outflows of exports, Reuters reports.

“I think in 2018 the prospects for growth are between 2 and 2.5 percent, which is positive and strong,” The news agency quotes Mr Cabral as saying. “What we are working on is to surpass those expectations, which is exactly what we have done in 2017.”

The report says annual growth in Portuguese gross domestic product was 2.6 percent last year, more than the 1.8 percent originally forecast by the government.

Tourism revenue increased by 20 percent last year, and investment was the greatest for 18 years, Reuters quotes the minister as saying.