Portugal forecasts GDP to shrink 1% next year

The Portuguese government forecasts gross domestic product will shrink 1 per cent next year, Finance Minister Vitor Gaspar said.

11th September, 2012
GDP is set to fall 3 per cent in Portugal this year.

The Portuguese government forecasts gross domestic product will shrink 1 per cent next year, Finance Minister Vitor Gaspar said.

The government had previously estimated GDP would expand 0.2 per cent in 2013.

Gaspar said in Lisbon today that the government is keeping its forecast for GDP to shrink 3 per cent this year.

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