World Economy

IMF Upbeat About Portugal Economy

IMF Upbeat About Portugal EconomyIMF Upbeat About Portugal Economy

The International Monetary Fund is more optimistic about Portugal, expecting its economy to grow 2.5% this year and the 1.5% target for the deficit will be met. It says that the government should take advantage of the situation to reduce public debt, TPN reported. The short-term outlook for Portugal has improved considerably, thanks to a recovery in investment and a continued increase in exports at the same time as the eurozone recovery has gained strength, the IMF said in a communique. The IMF expects the Portuguese economy to grow 2.5% this year, revising up the 1.5% growth it had estimated in April when it disclosed the ‘World Economic Outlook’, which is even more optimistic than the government which still predicts that gross domestic product will increase by 1.8%. The IMF says the favorable conditions create “an auspicious opportunity for a more ambitious reduction of public debt this year”. The Portuguese government wants to cut public debt from 130.4% in 2016 to 109.4% in 2021.



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