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Macro - Country Economic Forecasts - Portugal

Publisher Oxford Economics
Published Oct 23, 2025
Length 8 Pages
SKU # OFE20535932

Description

We've kept our GDP growth forecasts for Portugal unchanged at 1.9% for 2025 and 2.3% for 2026. We expect growth to receive a boost in H2 from income tax cuts and additional payments to pensioners, reinforcing disposable incomes and consumption. Increased spending under the EU's Recovery and Resilience Facility (RRF) further bolsters our outlook, particularly for 2026.

Table of Contents

8 Pages
Portugal: Budget 2026 reaffirmed commitment to solid public finances
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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