Economic woes overshadows Portugal election

Economic woes overshadows Portugal election
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As Portugal gears up for this weekend’s presidential election, the country remains gripped by its most severe economic crisis in decades.

Tax hikes and spending cuts mean some families cannot afford to keep with mortgage repayments.

The very poor rely on aid agencies to get hold of food.

Unemployment has risen to 11 percent of the country’s working population.

Out-of-work Portuguese are likely to tighten their belts further, slowing economic growth in the process.

The jobless will also not be paying any income tax, shrinking what the government can collect in dues.

euronews’ Michel Santos reports: “The Portuguese people have a tough year ahead and additional austerity measures have not been ruled out. Only time will tell whether they will take to the streets to protest.”

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