The Public Finance Council (CFP) considers it probable but not prudent ”the government’s prediction of a growth of 2.4% of the Portuguese economy this year.
The Public Finance Council considers the government’s prediction for the growth of the economy in 2025. The opinion was known on the same day that INE released a quick estimate that negatively surprised all analysts.
A slowdown is already foreseen, but reality has surpassed the worst of the scenarios. The estimate now released by INE reveals that the economy grew by 1.6% in the first quarter of this year, but contracted 0.5% compared to the last quarter of 2024. This is the worst quarterly fall since early 2021, when the country lived in full pandemic.
The negative surprise was mainly due to the slowdown in domestic consumption and exports-two factors that, according to the Public Finance Council, may compromise government predictions for this year.
In a report published this Friday, the board considers that the growth estimate of 2.4%, sent by the executive to Brussels, is not prudent, especially in the current international context of uncertainty and taking into account the existing projections for the Portuguese economy.
