Economy grew 6.7% in 2022, fastest rate since 1987

Portugal’s economy grew by 6.7% last year, its fastest rate since 1987, according to a flash estimate released today by National Statistics Institute INE. The rate of growth in gross domestic product is one-tenth below the government’s official forecast: finance minister Fernando Medina stated his conviction in December that the economy would see growth “of around 6.8 percent” in 2022. The flash estimate however is higher than the 6.5% estimated in the State Budget for 2023.