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Yearbook 1996

Portugal. According to, Jorge Sampaio, former Lisbon mayor, was elected Portugal's president on January 14. Like his representative Mário Soares belongs to the Sampaio Partido Socialista (PS). Soares could not be eligible for re-election as he has served as president for the two five-year periods that the country's constitution maximally allows.

1996 Portugal

At the end of January, the government signed a treaty with the country's unions and employers' organizations. According to the Treaty, wages were allowed to increase by only 4.5% during the year, 1% above the government's inflation target.

Portugal has the cheapest labor force in the EU, and this, combined with an expanded infrastructure, increased in 1996 foreign companies' investments in the country in several sectors - automotive, energy production, agricultural and textile industries. In May, the German business group Siemens announced an investment of Escudo 60 billion ($ 380 million) to build an electronics plant in northern Portugal. Ericsson in Sweden received an order from the Portuguese telecommunications operator Telecel worth SEK 650 million for the delivery of switches and base stations to a mobile telephone system.

At the end of June, Portuguese Foreign Minister Jaime Gama participated in a Geneva talks on East Timor with Indonesia's Foreign Minister Ali Alatas and UN Secretary-General Boutros Boutros-Ghali.

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