By Sergio Goncalves
LISBON, May 10 (Reuters) - Portugal's economy could face
a sharper economic slowdown than previously expected due to
interest rate hikes by the European Central Bank, turmoil in
global financial markets and geopolitical tensions, the Bank of
Portugal said on Wednesday.
Its latest growth forecast for 2023 was 1.8%, already much
lower than last year's 6.7%, which was the strongest expansion
in 35 years.
"The balance of risks suggests downward risks to Portuguese
economic activity, arising mainly from the impact of the
restrictive monetary policy, the increase in frictions in the
markets financial and geopolitical tensions," the central bank
said in its mid-year stability report.
(Reporting by Sérgio Gonçalves, editing by Andrei Khalip)
Messaging: sergio.goncalves.reuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.