The Gross Domestic Product (GDP) increased 23 percent (%) in the first quarter of 2022, reflecting the economic recovery of companies, according to the State Business Sector (SEE) report from the Ministry of Finance.
The document sent to Inforpress states that in the first quarter of this year GDP was 51.332.000 escudos, resulting in an increase of 23% compared to the same period, which stood at 41.704.000 escudos.
According to the same source, this increase was driven by the “continuous trend of recovery, albeit gradually economic activity in the country”.
“The recovery of the national economy, coupled with the behavior of international prices, culminated in price increases in general,” the report points out, noting that in December 2021 inflation increased to its highest level since November 2013, with average annual inflation at 1.9%.
In relation to the dynamics of turnover, the report reports that there was an increase of 27% in the first quarter of 2022 compared to the same period, and a 97% realization rate compared to the forecast, setting at 8.373,706 escudos.
Source: Infopress