(MENAFN) According to the Portuguese National Institute of Statistics (INE), the Portuguese economy expanded in the first quarter of 2015 as exports accelerated, Xinhua reported.
In the January-March period, the economy grew 1.4 percent of gross domestic product (GDP) from the same period of 2014. The economy grew 0.4 percent of GDP compared to the prior quarter.
Portugal last year ended the USD 87 billion bailout program it signed in 2011 when it was on the verge of bankruptcy, however the government still has to cut spending to meet its budget deficit target.
The Portuguese economy grew at the highest pace since the end of 2013 due to a slow-down reported in imports and the acceleration of exports, the INE data showed.
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