Portugal’s Prime Minister, Pedro Passos Coelho, on Monday said the country’s economy should grow 1.5 percent in 2015. Mr Passos Coelho added that growth could be higher, on the back of more favourable international economic conditions.

“If we grow a few tenths more, even better, but the most important thing is the long-term trajectory,” Mr Passos Coelho said, quoted by Portuguese Lusa News Agency.

He added that Portugal would be able to achieve a budget deficit below 3 percent of the country’s gross domestic product (GDP) this year.

The International Monetary Fund (IMF) has a different view. In a statement released on Tuesday, the IMF said that Portugal’s public deficit would reach 3.2 percent of GDP in 2015, though it revised its growth forecast for the country from 1.2 percent to 1.5 percent.