Portuguese economy grows 0.2 pct in Q2

Portugal's economy grew 0.2 percent in the second quarter of 2016, the country's National Institute for Statistics said on Friday.

The economy grew at the same rate as in the previous two terms, according to the institute.

Net foreign demand contributed positively while internal demand had zero impact, according to the note.

Year-on-year, the economy grew 0.8 percent and according to the institute for statistics, "the positive contribution of internal demand for the year-on-year variation of GDP decreased significantly, with a less intense growth of private consumption and a greater reduction in investment."

The institute also points out that "net external demand had a slightly positive effect, reflecting a more accentuated deceleration in imports of goods and services compared to exports of goods and services."

Private consumption has been the driver of economic growth in a country where the crisis is still looming.

Portugal signed a 78 billion euro (87.15 billion U.S. dollars) bailout program when it was on the verge of bankruptcy in 2011 and applied harsh austerity measures to boost growth. However, its public debt is still at 130 percent of GDP. Enditem