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In economics and political science, fiscal policy is the use of government revenue collection ( taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach ...
In 2013, 61.7% of the energy produced was renewable, including 30.4% hydroelectric, 24.1% from wind, 5.2% from biomass, 0.9% solar energy and 1.1% from other renewable energy sources, particularly geothermical energy in the Azores. Thanks to this energetic strategy, during 2013 Portugal had reduced to only 5% the energy that it imports.
In 1960, at the initiation of Salazar's more outward-looking economic policy due to the influence of a new generation of technocrats with background in economics and technical-industrial know-how, Portugal's per capita GDP was only 38 percent of the European Community (EC-12) average; by the end of the Salazar period, in 1968, it had risen to ...
The 2010–2014 Portuguese financial crisis was part of the wider downturn of the Portuguese economy that started in 2001 and possibly ended between 2016 and 2017. [1] The period from 2010 to 2014 was probably the hardest and more challenging part of the entire economic crisis; this period includes the 2011–14 international bailout to Portugal and was marked by intense austerity policies ...
The Congressional Budget Office projected a $534 billion deficit in fiscal year 2016, or 2.9 percent of GDP. If current policy remains unchanged, the CBO projects the deficit will increase to 4.9 percent of GDP by 2026, or a cumulative total of $9.3 trillion over the period. [20]
Politics in Portugal operates as a unitary multi-party semi-presidential representative democratic republic, whereby the Prime Minister of Portugal is the head of government, and the President of Portugal is the non-executive head of state which, although it is a somewhat ceremonial figure, [1] has some significant political powers they exercise often. [2]
t. e. In American political theory, fiscal conservatism or economic conservatism[ 1] is a political and economic philosophy regarding fiscal policy and fiscal responsibility with an ideological basis in capitalism, individualism, limited government, and laissez-faire economics. [ 2][ 3] Fiscal conservatives advocate tax cuts, reduced government ...
A key catalytic event in the process toward revolution was the publication, in 1973, of General António de Spínola's book, Portugal and the Future, which criticized the conduct of the war and offered a far-ranging program for Portugal's recovery. [1] The general's work sent shock waves through the political establishment in Lisbon. [1]