Portugal’s economy will start recovering from recession in 2013, Diario Economico reported, citing a speech by Prime Minister Pedro Passos Coelho on Sunday.

Next year will be the year of economic recovery and the reversal of the economic trajectory will take place at the end of 2012, Passos Coelho said in a speech to his party, according to the Portuguese newspaper.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net