Agência para o Investimento e Comércio Externo de Portugal


Portugal’s prime minister said that the economy grew by 2 percent in 2019, and was particularly strong towards the end of the year and above analysts’ forecasts.

This position was transmitted by António Costa on his Twitter account after Statistics Portugal (INE) estimated that the Portuguese economy grew in 2019 one-tenth above the government’s forecasts.


“Above forecasts and exceeding the expectations of analysts and major bodies, the Portuguese economy grew by 2 percent in 2019, with a particularly strong end of the year. The figures speak for themselves: it is the third year in a row that we have converged with the European Union,” he said.


According to Costa, the release of these figures is good news for Portugal.


“It is the result of the efforts of Portuguese companies and workers. It confirms that we are on the right track,” Costa said.


According to INE, in the fourth quarter of 2019 the national GDP grew 2.2 percent year-on-year (compared to the same period of 2018) and 0.6 percent quarter-on-quarter (compared to the third quarter of 2019).


The figures released on Friday by INE exceed by one-tenth the estimates of the government, the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF) and the Public Finance Council, but are in line with the forecasts of the Banco de Portugal and the European Commission.