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This paper reviews economic stabilization and growth in Portugal during the 1970s. Following a decade of rapid growth with external equilibrium, the Portuguese economy in the early 1970s suffered a series of major shocks. The paper highlights that the problem of managing economic growth with a balance-of-payments constraint was new to Portugal. The paper reviews the issues that had to be resolved to develop an effective program. The economic outturn is also critically examined in this paper.

Portugal --- Business & Economics --- Exports and Imports --- Foreign Exchange --- Labor --- Macroeconomics --- Money and Monetary Policy --- Trade: General --- Public Enterprises --- Public-Private Enterprises --- Wages, Compensation, and Labor Costs: General --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Current Account Adjustment --- Short-term Capital Movements --- International economics --- Monetary economics --- Civil service & public sector --- Labour --- income economics --- Currency --- Foreign exchange --- Public sector --- Exports --- Real wages --- Credit --- Exchange rates --- Economic sectors --- International trade --- Monetary expansion --- Monetary policy --- Money --- Finance, Public --- Wages --- Balance of payments --- Income economics