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Posted by nelson on July 19, 2017

The European Commission is even more confident than Portugal about its economic growth this year. Economic and Financial Affairs Commissioner Pierre Moscovici praised the country for its economic and fiscal progress and said growth would probably exceed 2.5% in 2017, a more optimistic forecast than the government’s 1.8% expectation.

"The progress that has been made is very impressive," Moscovici told reporters on Tuesday during a visit to Lisbon, guaranteeing that he is "optimistic" about the country's economy.

According to Reuters, he also said that Portugal's strategy of tackling the financial sector's massive bad loans, which the government said would not involve the use of public funds, was "ambitious and going in the right direction".

He added that if he had to use one word to describe the Portuguese economy, it would be “trustworthy”.

“We want to make Portugal a big success case in Europe,” Moscovici said.

The commissioner also spoke about how Brussels will take a more growth-friendly approach in its future deficit figures for Portugal.

"We would not propose a budgetary measure that could penalise growth," Moscovici said.


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