After ten years of spectacular recovery in its economy, Portugal hopes that the coronavirus epidemic will not wipe out all its efforts. Already, the good indicators obtained in 2019 have turned violently. After having approached bankruptcy in 2011, a drastic plan under the aegis of the troika (IMF, European Commission, European Central Bank) had put the country back on track. The coalition led by the socialist Antonio Costa, supported by the far left, continued the consolidation, while boosting investment. GDP growth (2.2% last year) was above the euro area average. An abysmal public deficit (11% in 2010) was finally eliminated to turn into a surplus.
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If the epidemic strikes the country less violently than its Spanish neighbor, the economic and social cost will be heavy. Partial containment has been decreed, even if industry or construction remain in activity. Nearly 900,000 people - one in five working people - have
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