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5 percent endure time, diving it into a double-dip depression amid an acute pecuniary emergency, the countrys statistics agency reports. Portugal wanted a 78 billion euro $103 billion bailout stay fresh time to evade ruin gone a decade of feeble growth. The government has enacted steep fee and welfare cuts and due hikes in the sphere of an effort to reduce Portugals debt burden, but the measures tolerate crunched costs. The native Statistics Institute assumed Tuesday to facilitate preliminary data indicated the downward spiral gathered tread featuring in the final quarter. Moodys cuts ratings on Italy, Portugal and SpainEurozone koko can assert shrunk in vogue late lamented 2011 The government forecasts a contraction of 3 percent this time since Portugal endures its most awful financially viable spot in vogue contemporary remembrance.
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