Portugal Economy and Education

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After the reform, the fiscal sphere ensured the inflow of state revenues, and control over public spending was established. Portugal budget: spending $48 billion, revenue $45 billion, deficit 2.8% of GDP (2002). Almost 90% of budget revenues came from taxes. The current account deficit increased by 9.2% and amounted to EUR 11,539 million (2001). In the third quarter of 2002, the balance of payments deficit reached 7,961 million euros. External debt of Portugal – 15 billion dollars (2002). The country’s total public debt is $61.16 billion, or 55.6% of GDP (2001). The total volume of direct foreign investments accumulated in Portugal is 32.671 billion dollars, Portuguese direct investments abroad are 24.881 billion dollars (2001). In 2001, the outflow of Portuguese capital (5.7 billion euros in direct investment) for the first time exceeded the inflow of foreign investment into the country (3. 6 billion euros). Portfolio investment in Portugal reached $52.9 billion, Portuguese portfolio investment abroad $42.531 billion (2001). Portugal’s investment in the Russian Federation amounted to $3.394 million (2001).

Export of goods and services grew by 6.1% and amounted to 24.8 billion dollars, import – by 5.3% and reached 37.8 billion dollars (2001). The share of Portugal in world exports is 0.4%, in imports – 0.6% (2000). OK. 85% of exports are finished products. Main articles: clothing, footwear, engineering products, chemicals, cork, paper. 79% of exports are to the EU (Spain – 19%, Germany – 18%, France – 13%, England – 11%), 6% – to the USA (2001). Major imports: machinery and transport equipment, chemicals, oil, textiles, agricultural products. Main import partners: EU countries – 74% (Spain – 25, Germany – 14, France – 11, Italy – 7, Great Britain – 6%), USA and Japan – 3% each (2001). The foreign trade turnover of Portugal with the Russian Federation is 231 million dollars (2001). Free economic zones operate in the Azores (“Santa Maria”, located on the island of the same name), on the island of Madeira (since 1980). At the same time, the archipelago has the jurisdiction of an offshore zone (until 2011).

In terms of living standards, Portugal ranks 24th in the world (Human Development Index – 0.874 in 1999). Wages are traditionally lower than in other EU countries (minimum – 348 euros per month, average – approx. 700 euros). In 2001, private consumption increased by 3.6% and per capita amounted to $7,190. Private incomes actually grew by 1.1% against a GDP growth of 1.7% (2001). National savings 17% of GDP. In 1989 a new unemployment benefit scheme was adopted, but so far it has not been introduced everywhere.

Science and culture of Portugal

Before joining the EU, Portuguese science was funded extremely poorly, there were practically no contacts with foreign scientific centers. In 1986 – 2000 funding for science has tripled and amounted to 0.7% of GDP. The share of Portugal in the total volume of scientific developments in the world is 0.2%. After the establishment of the Ministry of Science and Technology in 1995, the process of reorganization of research institutions began. In 1998 a new law on science and scientific research was adopted. The Agency for Scientific and Technical Innovations was established for the practical implementation of applied developments.

At present, Portuguese science is organizationally concentrated in four sectors: public, universities, enterprises and private non-profit research institutions. The main volume of scientific research falls on the first two (almost 2/3 of funding). The country has approx. 800 research institutions employing more than 20,000 researchers (1999). Scientific research on the basis of universities is characterized by a high level of fundamental and applied developments, more than half of them are carried out on the basis of the universities of Lisbon. Portuguese science has achieved the greatest success in molecular biology, bioengineering, genetics, chemistry, and medicine. The least developed research is in the economic and other social sciences. Portuguese research centers are involved in multilateral projects and programs,

According to educationvv, the education system of Portugal is being built in accordance with the “Basic Law on the Education System” of 1986, taking into account the amendments of 1997 and a number of other laws and regulations. Expenditure on education 6% of GDP. The education system consists of 3 levels: basic, secondary and higher. Basic education – 9 years of schooling for children aged 6 to 15 – is universally compulsory and free. Secondary education is not compulsory and is the next stage of school education lasting 3 years for children from 15 to 18 years old. Higher education is divided into university and polytechnic in public, private and cooperative universities. In 1998-99 there were 9215 basic schools, 497.5 thousand students and 34.3 thousand teachers, in secondary education the number of educational institutions was 3420, students – 1066.2 thousand, teachers – 111.2 thousand,

The development of Portuguese culture was influenced by Roman, Arabic and Spanish cultural traditions. The voyages of Portuguese navigators contributed to the penetration of oriental culture. There are many archaeological sites in Portugal: prehistoric inscriptions in a cave in Escoral, the remains of Roman architecture (the temple of Diana in Evora, the cathedrals in Braga and Viseu). The period of the Arab conquest was reflected in the typical Arab architecture of the southern cities. Musical traditions were influenced by Arab-Andalusian music. The traditional folk art of Portugal includes majolica utensils, lace-making, weaving, and woodcarving.

In the cities of Lisbon, Porto, Evora, Braga there are well-known libraries with rare old books and collections of manuscripts (Library of the Academy of Sciences, National Library, National Archives of Torre do Tombo, etc.). There are 303 museums and 290 art galleries in the country. The musical center of Portugal is Lisbon, where the Sant Carlos Opera House, the National Conservatory, and the Academy of Music are located. Painting and sculpture are dominated by realistic and neo-realistic trends (landscapes and genre compositions, national history). The muralist R. Ribeiro gained world fame. The main literary currents are neorealism and romanticism. A well-known representative of Portuguese literature is the poet and playwright F. Pessoa. In 1998, the Portuguese writer H. Saramagu received the Nobel Prize in Literature.

Portugal Economy

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