Portuguese GDP is expected to register an annual growth rate of 2.6 percent for 2017, the Bank of Portugal announced on Friday.

The figure is 0.1 percentage points higher than its last estimate, published in October.

The central bank also issued a 2.3 percent GDP growth forecast for 2018, 1.9 percent for 2019 and 1.7 percent for 2020. This last figure is the first GDP forecast the bank has made in relation to 2020.

The bank added that the encouraging projections were based on robust export expectations, with the tourism sector predicted to continue leading the way.

At present, forecasts for 2017 point to Portugal having grown at a faster rate than the rest of Europe for the first time this century.

Meanwhile, the Fitch ratings agency will issue its latest evaluation of Portugal, and is expected to return Portuguese debt to investment grade status.