The Portuguese economy grew by 6.7% in 2022, the highest rate since 1987, and 3.2% year-on-year in the fourth quarter of last year, The National Institute of Statistics (INE) reported this on Tuesday.
In the quarterly national accounts published today, the statistical institute maintained the growth variation of 6.7% of gross domestic product (GDP) in 2022 published on January 31, a tenth lower than the government’s forecast: at the end of December Minister of Finance, Fernando Medina, had stated his conviction that Portugal would “close the year 2022 with growth” [da economia] of about 6.8%”.
However, this percentage is above the estimated 6.5% in the National Budget 2023 (OE2023), which was submitted to parliament last October.
With regard to the fourth quarter of 2022, INE has revised its year-on-year GDP growth upwards to 3.2% (compared to the 3.1% forecast in January and decelerating compared to the 4.8% of the third quarter) and the chain of variation to 0.3% (the same rate as in the previous quarter and higher than the 0.2% projected in the January estimate).
Source: DN
