"The IMF notes the progress made by Portugal over the past year. This assessment represents a positive development in the Fund's analysis, which is visible in the significant economic growth forecast for 2017: 2.5%, an upward revision compared to the 1.3% forecast in the report from last February. For 2018 the forecast has now been revised to 2%, from 1.2% previously," said a statement from the Portuguese government.

In response to the IMF's Article 4 Mission Report, held from 19 to 29 June, the Government points out that the IMF, "recognises the diversified composition of this growth, based on private investment and exports, credit conditions and increased competitiveness of Portuguese goods and services."