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Macro - Country Economic Forecasts - Portugal

Publisher Oxford Economics
Published Dec 10, 2025
Length 8 Pages
SKU # OFE20650282

Description

We kept our GDP growth forecasts for Portugal unchanged at 2.3% for 2026 and 1.7% for 2027, after a likely increase of 2% in 2025. Healthy income growth and record employment support the outlook for consumer spending, while increased spending under the EU's Recovery and Resilience Facility (RRF) will lift investment. On the flipside, a slowdown in the tourism sector is underway, confirming that net exports won't significantly boost growth in the coming years.

Table of Contents

8 Pages
Portugal: Solid growth momentum set to continue
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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