• Global activity remains weak and uncertain, leading to stabilizing economic policies, particularly by central banks, that seek to soften the slowdown in growth. However, trade tensions could derail global growth.
  • Our GDP growth forecast for Portugal has been revised downwards to 1.5% for 2019, due to lower European demand and increased uncertainty. Recovery will continue thanks to the stabilization of global growth, the support from monetary policy and domestic demand.
  • There are still numerous risks and, once that the cyclical recovery is almost complete, it is now necessary to think about the long-run challenges of the Portuguese economy, to continue the implementation of polices to reduce its vulnerabilities to changes in the global outlook and to take advantage of the opportunities of the digital revolution. Best policies will achieve better results in term.

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