Arab Today, arab today portugal\s economy shrinks 09 pct in q3
Last Updated : GMT 04:26:40
Arab Today, arab today
Arab Today, arab today

Portugal\'s economy shrinks 0.9 pct in Q3

Arab Today, arab today

Arab Today, arab today Portugal\'s economy shrinks 0.9 pct in Q3

Lisbon - XINHUA

Portugal\'s economy shrank by 0.9 percent in the third quarter this year compared with the previous three months, according to statistics released Friday by the country\'s national statistics agency INE, or Statistics Portugal. Portugal\'s economy decreased by 3.5 percent year on year instead of 3.4 percent predicted due to the \"less intense reduction of imports of goods and services and the deceleration of exports of goods and services,\" the INE said. Portugal is suffering from a deep recession and struggling to meet the request of the so-called troika, namely the European Commission, the International Monetary Fund and the European Central Bank, under a 78-billion-euro (101-billion-U.S. dollar) bailout program.

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