Bank of Portugal - Annual Report 2004

According to the Bank of Portugal's Annual Report 2004, the Portuguese economy resumed positive growth in 2004, albeit at a moderate pace.

The Banco de Portugal estimates point to 1.1 per cent real Gross Domestic Product (GDP) growth, after a fall of similar magnitude in the previous year. The real convergence process of the Portuguese economy had slowed down during the 1990s and came to a halt in 2000. Despite the recovery in 2004, growth rates in Portugal continued to be amongst the lowest in

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