The central bank is now in line with the Government, which also included growth of 2% this year and 2.3% next year in the 2026 State Budget (OE2026).

In its last bulletin, from October, the BdP projected growth of 1.9% in 2025 and 2.2% in 2026, estimates that have now been revised by 0.1 percentage point.

The revision was mainly due to "greater growth in private consumption," according to the institution led by Álvaro Santos Pereira.

"In an international context marked by trade tensions, euro appreciation, and high uncertainty, the Portuguese economy maintains robust growth," the bulletin released today also states.

The Bank of Portugal also highlights that "the easing of financial conditions, the strengthening of European funds, and an expansionary fiscal policy have mitigated the impact of external shocks."

For the following years in the projection horizon, the Bank of Portugal now forecasts a slowdown in economic growth to 1.7% and 1.8% in 2027 and 2028, respectively.