According to the March economic bulletin, released by the Bank of Portugal (BdP), the Gross Domestic Product (GDP) could grow by 4.9% in 2022, 2.9% in 2023 and 2.0% in 2024, "benefiting from greater receipts of funds from the European Union and the maintenance of favourable financial conditions".
In December, the regulator predicted an economy growth of 5.8% in 2022, 3.1% in 2023 and 2% in 2024.
The projections released for this year are close to those of the Public Finance Council (CFP), which anticipates a rise of 4.8%. The official estimate of the Ministry of Finance is 5.5% for this year, but the Government has already admitted to reviewing the macroeconomic scenario downwards in the State Budget proposal.
The Organisation for Cooperation and Development forecasts a GDP expansion of 5.8% and the European Commission of 5.5%. The International Monetary Fund expects growth of 5.1%.