Arab Today, arab today bank of portugal slashes growth forecast amid signs of recovery
Last Updated : GMT 07:01:29
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.

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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