LISBON: One year after gaining freedom from the control of its international creditors, Portugal has succeeded in dramatically improving its economy, though most people are still struggling under the stringent austerity measures.
In 2011, Portugal received a 78 billion euro (89 billion dollar) loan to save its failing economy, joining one of the EU’s other struggling economies, Ireland, in being bailed out.
Economic forecasts in Portugal are looking promising this year, with the government expecting 1.6 percent growth, but experts say that this apparent success does not mean much for the people — yet.