Arab Today, arab today bank of portugal slashes growth forecast amid signs of recovery
Last Updated : GMT 07:28:42
Arab Today, arab today
Arab Today, arab today

Bank of Portugal slashes growth forecast, amid signs of recovery

Arab Today, arab today

Arab Today, arab today Bank of Portugal slashes growth forecast, amid signs of recovery

The Bank of Portugal
Lisbon - XINHUA

LISBON, June 11 (Xinhua) -- The Bank of Portugal slashed Portugal's economic growth forecast for 2014 on Wednesday from the previous estimate of 1.2 percent to 1.1 percent.
"This recent evolution was partially conditioned to factors of temporary nature and should be reverted in the next quarters," the central bank said in a press release.
The figure comes after Portugal's National Institute of Statistics announced on Monday that Portugal's GDP fell 0.6 percent between January and March this year. The Bank of Portugal said this was due to temporary factors.
The bank was referring in part to the temporary closure of Galp's biggest oil refinery in Sines, Portugal.
Despite growth in domestic demand, exports were sluggish, with the central bank forecasting exports to grow 3.8 percent instead of 5.8 percent.
Domestic demand contributed the most to Portugal's GDP, and should grow slightly more, at 1.4 percent compared to the previous estimate of 1.3 percent.
The central bank also said next year will see the signs of recovery in the country, forecasting growth of 1.5 percent compared to the previous forecast of 1.4 percent.
Portugal has ended its 78-billion-euro bailout program it signed with the European Commission, the International Monetary Fund and the European Central Bank in May 2011 and now has to rely on self-financing.
A fresh package of stimulus measures by the European Central Bank, which includes lower interest rates, has helped yields in countries like debt-laden Portugal to hit historical lows.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of portugal slashes growth forecast amid signs of recovery Arab Today, arab today bank of portugal slashes growth forecast amid signs of recovery

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday