In a united move, Portuguese startups fight to mitigate Covid-19 impact in unprecedented crisis

As strong growth of previous years falters, Portugal’s startups were quick to mobilize themselves to detail the help they would need from the state to deal with their biggest challenge yet 

Portugal is facing its worst recession in living memory as businesses, large and small, are facing unprecedented contraction in the short-term because of the Covid-19 pandemic.

Economists are expecting a downturn worse than during the 2008 global financial crisis from which the country had only recently recovered. The IMF forecast last week that the country's GDP would shrink 8% this year compared with a 2.2% growth in 2019 and the unemployment rate would reach 13.9% compared with 6.5% last year. 

The slump is largely due to Portugal's heavy reliance on its tourism sector, which accounted for 14.6% of GDP in 2018. After attracting record numbers of 27m visitors in 2019, the sector is close to collapse this year because of Covid-19. Even before the pandemic, Portugal's exports and domestic demand were also already slowing.As of the morning of April 20, the country reported 20,206 cases of infection, with 714 dead and

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