The credit rating agency DBRS has updated its projections for various countries considering the conflict in Iran, maintaining Portugal’s GDP growth forecast at 2.1% for 2026, while improving the 2027 forecast to 1.8%.
The update also included unemployment estimates. For 2026, Portugal’s unemployment rate remains 6%, but the 2027 outlook has become more optimistic, now projected to fall to 5.9%.
Read more about this topic: Portugal’s GDP per capita reaches 81% of EU average in 2025
DBRS described the revisions as “modest and mixed,” noting that growth estimates for 2026 and 2027 “remain cautiously optimistic.”
Thomas Torgerson, Executive Director of Global Sovereign Ratings, emphasized that the final impact of the Iran conflict on growth and inflation remains uncertain, and most analysts have not made significant revisions yet. He added that the adverse economic effects of the conflict could be substantial, particularly for countries that are net energy importers.
