For his first six months in office, Mario Soares exhorted while Portuguese democracy burned. In September, he gave a sombre and realistic portrayal of the state of the economy. Portugal’s annual trade deficit was running at $2000 million, its annual budget deficit at $ 1000 million, and its foreign debt at over $2000 million. The terms of trade showed that if anything Portugal’s competitiveness was declining.
KeywordsEurope Marketing Explosive Expense Petrol
Unable to display preview. Download preview PDF.