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PORTUGAL
Year of EU entry 1986
Political system Republic
Capital city Lisbon
Total area 92,072 km2
Population 10.4 million
Currency euro |
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Overview
Portugal, a country with a rich history of seafaring and discovery, looks out from the Iberian Peninsula onto the Atlantic Ocean. Portugal's history has had a lasting impact on the culture of the country: Moorish and Oriental influences in architecture and the arts are prominent.
During the past 3,000 years, Portugal has witnessed a constant ebb and flow of civilisations. Phoenician, Greek, Celt, Carthaginian, Roman and Arabic cultures have all left their imprint. In the 15th century, Portugal's intrepid maritime explorers led by Vasco da Gama discovered new territories, leading to the accumulation of an overseas empire.
The President, elected for a five-year term by universal suffrage, has limited powers. The parliament has 230 members, whose mandate is for four years.
The University of Coimbra, established in 1290, is one of the oldest in Europe. Among the best-known Portuguese poets are Luís de Camões and Fernando Pessoa.
During the summer, in the month of June, festivities dedicated to three saints known as Santos Populares (Popular saints) take place all over Portugal. Folk dance and music, particularly the melancholy fado, remain vibrant.
Each region of Portugal has its traditional dishes with various kinds of meat and seafood, including the hundred ways of cooking cod, the national dish.
Economy
Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past decade, successive governments have privatised many state-controlled firms and liberalised key areas of the economy, including the financial and telecommunications sectors. The country qualified for the European Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002, along with 11 other EU member economies. Economic growth had been above the EU average for much of the past decade, but fell back in 2001-05. GDP per capita stands at two-thirds that of the Big Four EU economies. A poor educational system, in particular, has been an obstacle to greater productivity and growth. Portugal has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment. The government faces tough choices in its attempts to boost Portugal's economic competitiveness while keeping the budget deficit within the eurozone's 3%-of-GDP ceiling.
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