In the updated global economic forecasts, issued today within the framework of the meetings of the International Monetary Fund and the World Bank, held this week in Marrakesh (Morocco), The institution is somewhat more pessimistic than in June about Portuguese economic growth, but more optimistic about the development of inflation this year.
In June, the institution expected the Portuguese economy to grow by 2.6% this year and 1.8% in 2024, and a decrease in the inflation rate from 8.1% in 2022 to 5.6% in 2023 and 3.1% next year.
However, the values offered for Portugal are better than in the Eurozone. Announced today, the International Monetary Fund is more pessimistic about euro area growth and now expects GDP to expand by 0.7% in 2023 and 1.2% in 2024. The institution lowered its growth forecast for this year by 0.2 percentage points and for 2024 by 0.3 percentage points.
The International Monetary Fund warned today that the global recovery from the pandemic and Russia’s invasion of Ukraine remains slow and uneven, and it expects global economic growth to slow to 3% this year.
The International Monetary Fund expects global growth to slow from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, below the historical average (2000-2019) of 3.8%, with 2024 forecasts lower by 0.1 percentage point compared to the July report.
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The OECD revises its estimate for economic growth in Portugal to 1.6%.
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