Bank of Portugal raises 2021 growth forecast, sees second-quarter recovery
LISBON, June 16 (Reuters) - Portugal's central bank on Wednesday raised this year's economic growth forecast to 4.8%, expecting a strong increase in exports and a significant recovery in private consumption from the second quarter onwards after the lifting of most COVID-19 restrictions.
In March, while the country was in its second lockdown, the central bank predicted an economic expansion of 3.9%.
In its quarterly economic bulletin, the Bank of Portugal also said the economy, which last year contracted 7.6% in its worst recession since 1936, should grow 5.6% in 2022 and 2.4% in 2023.
"The projection points to a quick, albeit incomplete, recovery of the Portuguese economy, with the balance of risks biased upwards," it said.
(Reporting by Sergio Goncalves, editing by Andrei Khalip)
