IMF. Economic growth revised upwards to 1.7% in 2024
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The IMF revised Portugal’s economic growth upwards to 1.7% this year, showing itself to be slightly more optimistic than the Government which pointed this Monday to an increase of 1.5%.
In updating the Public Finance Council (CFP) forecasts, released this month, the entity led by Nazaré da Costa Cabral maintained the growth of the Portuguese economy this year at 1.6% and forecasts an expansion of 1.9% in 2025.
The Bank of Portugal (BdP) sees the Gross Domestic Product (GDP) increasing by 2%, while the European Commission and the Organization for Economic Cooperation and Development (OECD) point to a rate of 1.2%.
The IMF also forecasts an inflation rate of 2.2% this year and 2% in 2025, a downward revision compared to the 3.4% in 2024 and 2.4% projected in the October report.
The Bretton Woods institution points to an unemployment rate of 6.5% this year and 6.3% in 2025.
The IMF is slightly less optimistic about economic growth in the euro zone and now forecasts a GDP increase of 0.8% this year and 1.5% in 2025, according to projections released today.
On the other hand, this year’s global growth forecast improved by 0.1 pp to 3.2% in 2024.
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