Bank of Portugal have lowered 2014 GDP estimations to 1.1% from 1.2% in March. To counter that they’ve raised 2015 to 1.5% from 1.4%. 2016 remains unchanged at 1.7%
They say a slowing in export growth will be the factor that sees growth trimmed.
The central bank also warned that there was still plenty of adjustment still to be done in the country’s finances;
“Although there was a significant consolidation effort in the last three years, the adjustment of public accounts is still not concluded”
