Portugal Immigration focuses on Doing Business in Portugal: Recent economic data released by the Portuguese National Institute of Statistics shows that Portugal's economy grew by 0.4% quarter-on-quarter and 1.5% year-on-year in the first quarter of this year, marking the highest growth rate since the third quarter of 2010.
The data indicates that the growth in investment and private consumption is the main driving force behind the economic growth. The Portuguese government expects the country's economic growth rate to reach 1.6% this year.
In May 2011, the Portuguese government reached a rescue agreement totaling 78 billion euros with the "Troika" consisting of the European Union, the International Monetary Fund, and the European Central Bank, and implemented a series of fiscal austerity and economic reform measures as required by the agreement.
In May of last year, the Portuguese government announced its complete exit from this rescue plan, and the economy began a slow recovery, but Portugal continues to implement austerity measures to achieve the goal of reducing the fiscal deficit.
