Portugal’s central bank revises GDP estimate upwards, forecasts 1.8 pct growth

Portugal’s central bank has raised its economic growth forecast and now expects gross domestic product (GDP) will grow by 1.8 percent in year-on-year terms, Lusa reports.

The Portuguese news agency says the central bank’s previous prediction, released in December, forecast growth of 1.4 percent.

The Bank of Portugal’s revised forecast is higher than the government’s estimate, included in the Budget, that pointed to 1.5 percent growth.

The central bank has also raised its forecasts for next year and 2019. It expects the economy will grow by 1.7 percent next year and by 1.6 percent in 2019.

Portugal’s GDP grew 1.4 percent last year, easing from a 1.6-percent increase in 2015.