Portugal (austerity measures)

Portugal faced austerity measures after the 2008 financial crisis, which strained its economy and led to a bailout from the European Union and the International Monetary Fund in 2011. To reduce its debt and restore financial stability, the government implemented cuts in public spending, tax increases, and structural reforms. These measures aimed to improve economic performance but also led to public protests and social unrest due to the impact on jobs and social services. Over time, these austerity steps helped Portugal return to economic growth and exit the bailout program in 2014.