Tuesday , June 15 2021

SIC news Brussels sees economic slowdown in Portugal and the eurozone

The gross domestic product in Portugal is expected to grow by 2.2 percent this year, a decrease of 2.8 percent in 2017. For eurozone growth is expected to fall once it has reached its peak in the last 10 years.

From 2.4% in 2017, it is forecast to grow by 2.1% in 2018. Outlook for next years is even more moderate: 1.9% in 2019 and 1.7% in 2020.

The same is for the European Union at 27. The forecast is for growth of 2.2% in 2018, 2% in 2019 and 1.9% in 2020.

Brussels anticipates more deficits than the Portuguese government for 2019

The European Commission estimates that the Portuguese deficit will fall by one tenth between this and next year, expecting a value of 0.6 percent of GDP by 2019, above government forecasts for a deficit of 0.2 percent.

In the autumn economic forecasts published today in Brussels, the EU's executive power was in line with government's deficit forecast for this year, estimated at 0.7% (when in the spring forecast, in May, 0.9% ), but predicts that in the next reduction only one tenth, to 0.6%.

In a proposal by the State Budget for 2019 (OE2019), which was submitted last month to Brussels – and on which the Commission decides on November 21 – the Government has kept the budget deficit estimate of 0.2% of domestic product (GDP) by 2019, was committed to the Stability Program 2018-2022. Presented in April.

With Luke

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