Portugal’s unemployment rate could hit around 10 per cent by end of 2020, says finance minister | Malay Mail

Friday, 08 May 2020 08:51 AM MYT

“We think the unemployment rate may increase by three to four percentage points by the end of 2020,” Centeno, also Eurogroup’s chief, said during an interview with RTP television. The IMF expects Portugal’s gross domestic product to contract by 8 per cent this year, above the European Commission’s predictions this week of a 6.8 per cent drop.Helped by solid economic growth of 2.2 per cent last year, the government reported a budget surplus of 0.2 per cent of GDP in 2019 — its first in 45 years of Portugal’s democratic history — after a deficit of 0.4 per cent in 2018.

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