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Portuguese PM says new phase of recovery must be "for everyone"

Xinhua, July 28, 2015 Adjust font size:

Portuguese Prime Minister Pedro Passos Coelho said on Monday that the country's new phase of recovery must be "for everyone", without forgetting the most vulnerable.

"We are living in a time of opportunity for recovery which can't be just for some, but for everyone," Passos Coelho told journalists during a visit to Rabo de Peixe, in the Azores islands, according to Portuguese Lusa News Agency.

"My intention is to draw attention to this new phase we are living, which is a phase of recovery. All those in areas of greater social and economic vulnerability should know that they will not be forgotten," Passos Coelho added.

The prime minister's optimistic words come as the October general elections approach, with the ruling center-right coalition running neck-and-neck with the main opposition Socialist Party, according to recent polls.

The Portuguese economy has shown signs of improvement since the country was bailed out in 2011 under a 78 billion euro (about 86 billion U.S. dollars) bailout package, but still remains fragile.

The government expects the economy to grow 1.6 percent this year after 0.9 percent growth in 2014. Unemployment stands at around 13 percent and public debt amounts to over 130 percent of the country's GDP. Endit