Member of: AfDB, Australia Group, BIS, CCC, CE, CERN, EBRD, EC, ECE,
ECLAC, EIB, FAO, GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA,
IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL,
IOC, IOM, ISO, ITU, LAIA (observer), MTCR, NACC, NAM (guest), NATO,
NEA, NSG, OAS (observer), OECD, OSCE, PCA, UN, UNCTAD, UNESCO, UNIDO,
UNOMOZ, UNPROFOR, UPU, WCL, WEU, WFTU, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in US:
chief of mission: Ambassador Francisco Jose Laco Treichler KNOPFLI
chancery: 2125 Kalorama Road NW, Washington, DC 20008
telephone: [1] (202) 328-8610
FAX: [1] (202) 462-3726
consulate(s) general: Boston, New York, Newark (New Jersey), and San
Francisco
consulate(s): Los Angeles, New Bedford (Massachusetts), Providence
(Rhode Island), and Washington, DC
US diplomatic representation: chief of mission: Ambassador Elizabeth Frawley BAGLEY embassy: Avenida das Forcas Armadas, 1600 Lisbon mailing address: PSC 83, Lisbon; APO AE 09726 telephone: [351] (1) 7266600, 7266659, 7268670, 7268880 FAX: [351] (1) 7269109 consulate(s): Ponta Delgada (Azores)
Flag: two vertical bands of green (hoist side, two-fifths) and red (three-fifths) with the Portuguese coat of arms centered on the dividing line
@Portugal:Economy
Overview: Portugal's economy contracted 0.4% in 1993 but registered a 1.4% growth in 1994, with 3% growth expected in 1995 and 1996. This comeback rests on high levels of public investment, continuing strong export growth, and a gradual recovery in consumer spending. The government's long-run economic goal is the modernization of Portuguese markets, industry, infrastructure, and work force in order to catch up with productivity and income levels of the more advanced EU countries. Per capita income now equals only 55% of the EU average. Economic policy in 1994 focused on reducing inflationary pressures by lowering the fiscal deficit, maintaining a stable escudo, moderating wage increases, and encouraging increased competition. The government's medium-term objective is to be in the first tier of the EU countries eligible to join the economic and monetary union (EMU) as early as 1997. To this end, the 1995 budget posits a cut in total deficit to 5.8% of GDP.
National product: GDP - purchasing power parity - $107.3 billion (1994 est.)
National product real growth rate: 1.4% (1994 est.)
National product per capita: $10,190 (1994 est.)
Inflation rate (consumer prices): 6.1% (May 1994)