Portuguese economy to grow 3.9% in 2021

  • 31 December, 20

The Bank of Portugal expects that the country’s economy will contract by 8.1% in 2020, but recovering 3.9% in 2021.The 3.9% growth rate is below the 5.4% forecast by the Portuguese government. The BoP’s projections “assume that the restrictions are gradually withdrawn from Q1 2021, although the activity will remain conditioned until early 2022, when an effective medical solution will be fully implemented.

In the following years, the Bank of Portugal foresees an acceleration in 2022 with an economic growth of 4.5%. In 2023, the economy should recover by 2.4%. “Economic activity should resume the level before the pandemic at the end of 2022”, forecasts, in line with the forecasts of other institutions.

Cre: econews.pt/2020/12/14/portugals-gdp-will-grow-by-3-9-in-2021/

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