Portugal (AP) - Portugal's statistics agency said, the economy contracted 3.2%, last year - the biggest annual decline since 1975.
Portugal is working on a wide range of debt reduction measures, including tax increases and cuts in wages and pensions, in a 7.8 billion euro ($10.2 billion), the euro's international financial lifeline, in May 2011, he received in return. These austerity measures is widely considered to deepen the recession and growing difficulties.
National bureau of statistics (NBS) said on Monday that such a private consumption and the main factors behind the slowdown in export growth, the economy shrank 3.8% in the fourth quarter.
The unemployment rate is 17.6%, in the 27-country bloc in Greece and Spain after the third high speed.
Economy to shrink by 1.6% in 2011. The government is expected to shrink 2% this year.



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