News Karnataka
Saturday, December 09 2023

Portugal registers highest Q1 GDP growth in EU

Portugal registers highest Q1 GDP growth in EU
Photo Credit :

Lisbon: The Gross Domestic Product (GDP) of Portugal grew by 2.6 per cent in the first quarter (Q1) of 2022 compared to the fourth quarter of 2021, the best performance among the 11 European Union (EU) countries, according to official figures.

The GDP also grew by 11.9 per cent compared to the same period last year, Xinhua news agency quoted the country’s national institute of statistics (INE) as saying.

INE said that private consumption was the main factor in giving an unexpected boost to GDP in Q1.

“Meanwhile, the contribution of net external demand remained slightly positive,” said INE, adding that this can be explained by the gradual lifting of pandemic restrictions.

Finance Minister Fernando Medina said in Parliament that the country is recovering to pre-pandemic levels, with “impressive growth”.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp