A look at Portugal and its economy
Portugal’s government is in danger of collapsing after two key ministers resigned. Financial markets plunged on concerns the government would no longer have support for the reforms it needs to keep accessing its rescue loans.
Here’s a look at Portugal and its economy.
Population: 10.6 million
Annual gross domestic product (2012): 165 billion euros ($215 billion)
GDP relative to the rest of the eurozone: 1.7 percent
Recession: Economy has been shrinking for last 10 consecutive quarters, since the end of 2010
Unemployment rate (May): 17.6 percent
Youth unemployment rate (May): 42.1 percent
Government debt (2012): 123.6 percent of annual GDP
Government budget deficit (2012): 6.4 percent of annual GDP
Bailout: 78 billion euros ($101.5 billion), agreed in 2011
10-year bond yield: 7.73 percent