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Portugal's unemployment rate falls to 13 pct in April

Xinhua, June 2, 2015 Adjust font size:

Portugal's unemployment rate fell to 13 percent in April, preliminary figures by the Portuguese National Institute of Statistics (INE) revealed on Tuesday.

According to the statistics body, the country's unemployment rate fell from 13.2 percent the previous month.

Over 667,000 people were unemployed in April, the figures show.

"This fall in the unemployment rate is satisfying. Many people have managed to find opportunities," Portugal's Deputy Prime Minister Paulo Portas told journalists at a press conference on Tuesday.

After years of deep recession, improved unemployment figures prove the economy is gradually improving.

"The fact that the Portuguese economy is generating employment month after month is a source of hope," Portas added.

The unemployment rate has fallen considerably since the 14.6 percent rate in the same period last year.

Despite Portas' optimism there is still huge gap in unemployment, with youth unemployment standing at 31.2 percent in April. Much progress has been made since February 2013, however, when the unemployment rate for young people between the ages of 15 and 24 stood at 40.7 percent.

The center-right coalition led by Prime Minister Pedro Passos Coelho forecasts the economy to grow 1.6 percent this year, with growth expected to be driven by investment and exports. Endit