Portugal government sees 2020 recession due to coronavirus outbreak

Portugal's finance minister Mario Centeno said on Wednesday that all scenarios pointed to a recession this year due to the impact the rapidly-spreading coronavirus will have on the economy.

"We are working on scenarios to return to normality, but we will always be talking about a scenario of annual recession," Centeno told a news conference. "It will be stronger the longer we take to return to the activity that was underway before March 15."