Worldway Comprehensive News: Angel Gurría, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), stated in Lisbon on Wednesday that the forecast for Portugal's economic growth rate in 2015 will be between 1.3% and 1.5%, and 2% for 2016.
"The GDP growth in 2014 was 0.9%, and we expect it to reach at least 1.3% to 1.5% in 2015, maintaining this level with a growth rate of about 2% in 2016." Gurría revealed these figures in the publicly released report titled "Strategic Techniques for Portugal."
According to the Portuguese news agency quoting Gurría, factors such as the decline in international oil prices, low short- and medium-term interest rates, and the depreciation of the euro against major international currencies have together "created conditions for potential development and vibrant growth in the coming years."
The OECD stated in its "Economic Outlook" released on November 25 that Portugal's economic growth rate in 2014 was 0.8%, lower than the government's forecast of 1%; the budget deficit was 4.9%, higher than the predicted 4.8% under the new "European Accounting System."
The OECD expects a growth rate of 1.3% in 2015, with a budget deficit equivalent to 2.9% of GDP, both figures being more pessimistic than the government's forecast—0.2 percentage points higher and lower, respectively.
As for 2016, the OECD's "Economic Outlook" anticipates a rapid economic growth in Portugal—with a GDP growth rate of 1.5%, while the budget deficit is expected to decrease to 2.3% of GDP.
【Portugal Property Immigration】
To attract international capital investment in Portugal and promote economic recovery, the Portuguese government implemented the "Golden Residence Permit Program" as early as September 2012. An investment of 500,000 euros in real estate qualifies for Portuguese golden residence status.
【Golden Residence Visa March Data】
The Portuguese Immigration and Borders Service released the latest official data as of March 31, 2015. Since the implementation of the "Golden Residence Permit Program" on October 8, 2012, a total of 2,290 individuals have successfully obtained the Portuguese golden visa, with a total investment amount exceeding 1.39 billion euros. Among them, 2,166 individuals (approximately 95% of the total) obtained their status through real estate purchases, with an investment amount of about 1.25 billion euros, primarily from buyers in China, totaling 1,840. The property immigration to Portugal is particularly favored by Chinese investors.
