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Country Economic Forecasts > Portugal

  • March 2017
  • -
  • Oxford Economics
  • -
  • 14 pages


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The economy ended 2016 on a solid footing. GDP expanded by 0.7% in Q4, following the strong 0.9% rise seen in Q3. Domestic demand was the main growth driver, with investment showing a particularly impressive performance. Despite a robust rise in exports, net external trade was a drag on growth as imports surged. We have lifted our 2017 GDP growth forecast to 1.7% from 1.5%. Moreover, the 2016 budget deficit was comfortably inside the EU's target.

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