March 29, 2017 / 1:25 PM / 5 months ago

Bank of Portugal raises growth view for 2017, 2018

LISBON, March 29 (Reuters) - The Bank of Portugal has raised its forecast for 2017 economic growth to 1.8 percent from 1.4 percent, boosted by rising investment and exports, it said on Wednesday in its latest outlook for the economy.

The bank also raised its view on growth next year, to 1.7 percent from 1.5 percent in a previous report released in December. In 2019 it expects growth of 1.6 percent, up from 1.5 percent previously.

"The revision for 2017 in large part reflects the incorporation of quarterly accounts for the fourth quarter of 2016," it said in the report. "At the end of 2016 private consumption, gross formation of fixed capital and exports registered higher growth than seen in the December bulletin."

The government expects growth this year of 1.5 percent.

Reporting By Axel Bugge

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