Brussels, 11/07/2012 (Agence Europe) - On Tuesday 10 July 2012, the Portuguese Central Bank said that the recession would not be as severe this year as expected, but new austerity measures may still be needed to meet the international aid plan targets.
In its summer newsletter, the Bank of Portugal forecast that gross national product would shrink by 3.0% this year, rather than 3.4% as initially forecast. The new forecast matches those of the Portuguese government and the European...