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Portugal: Country and Foreign Investment

Executive Summary

According to the International Monetary Fund, as of 2013, Portugal has the 46th highest GDP per capita in the world. It is ranked as 43rd on the UN's Human Development Index (a comparative measure of life expectancy, literacy, education, standards of living, and quality of life).

Portugal was one of the original members of the eurozone, having switched from the Portuguese Escudo to the euro (€) upon its creation in 1999. The Portuguese Republic consists of Continental Portugal and two Autonomous Regions - the Azores and Madeira. Madeira is a tax-privileged economic area with a Free Trade Zone.

Portugal was badly affected by the world financial crisis of 2007–08, suffering its harshest economic contraction in 40 years, and seeing unemployment reaching a rate of 17.6% in February 2013 (an increase from 4.1% at the end of 2001). In April 2011, the country needed an €80 billion financial bailout from the IMF and the European Union.

 

 

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