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Europe Daily Bulletin No. 10606

3 May 2012
ECONOMY - FINANCE / (ae) portugal
Economy to shrink by 3% in 2012, but to start growing in 2013

Brussels, 02/05/2012 (Agence Europe) - On Monday 30 April, Portugal unveiled and submitted to the European Commission its budget strategy for 2012-2016, expecting growth to return next year. The Portuguese finance minister, Vitor Gaspar, said in Lisbon that the government expects the economy to shrink this year, but pick up again next year. The government forecasts that the Portuguese economy will contract by some 3% in 2012, compared with the previous forecasts of a 3.3% contraction. In...

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