Portugal will be the fastest growing country in the EU in 2022 (and inflation is accelerating)

BUT The European Commission is more optimistic and sees Gross domestic product (GDP) of Portugal will grow by 5.8% this year, which means an upward revision from previous forecasts. OUR The inflation rate, also revised upwards, should be set at 4.4%. em 2022, according to the spring economic forecast released this Monday.

In a previous forecast released on February 10, the European Commission estimated that Portugal’s GDP would grow by 5.5% this year. The inflation forecast was 2.3%.

The report of the European Commission notes that “in Growth prospects remain strong despite challenges associated with commodity prices, global supply chains and greater uncertainty in external demand.”

With the settlement rate for this year, Portugal will be the country that will grow the most in 2022according to the forecasts of the European Commission:

Next year, Brussels forecasts GDP growth in Portugal at 2.7%, while inflation is expected at 1.9%.

The European Commission also improved by 1.5 percentage points (pp) the Portuguese deficit forecastpending government account deficit 1.9% this year, in accordance with government decree.

In its spring macroeconomic outlook, Brussels projects a deficit of 1.9% of gross domestic product (GDP) this year, compared to 3.4% estimated in the fall, and is also more optimistic about budget performance in 2023, when a deficit is expected. at a rate of 1%, when a negative balance of 2.8% was previously predicted.

Thus, the European Commission’s forecast of a shortage of technical specialists is in line with the forecast of the Ministry of Finance for this year, which is the basis of the state budget proposal.

Read also: Inflation is at 6.1% this year in the eurozone, peaking in the second quarter.

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