Bloomberg News

Portugal Raises Forecast For 2012 Unemployment Rate to 15.5%

June 01, 2012

The Portuguese government forecasts the unemployment rate will rise to 15.5 percent this year and 16 percent next year, Finance Minister Vitor Gaspar said.

After 2013, the government expects a “sustainable drop” in the unemployment rate, Gaspar said at a press conference in Lisbon today.

The government had previously forecast an increase in the unemployment rate to 14.5 percent this year before declining to 14.1 percent in 2013. The jobless rate was 12.7 percent in 2011.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net


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