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In the 2010s, the Portuguese economy suffered its most severe recession since the 1970s, which resulted in the country receiving a 78-billion-euro bailout from the [[European Union]] and the [[International Monetary Fund]] in May 2011.<ref name="nytimes">{{cite news|url=https://www.nytimes.com/2012/02/15/business/global/portugals-debt-efforts-may-be-a-warning-for-greece.html|title=Portugal's Debt Efforts May Be a Warning for Greece|first=Landon Jr.|last=Thomas|date=14 February 2012|access-date=2 August 2017|newspaper=[[The New York Times]]|archive-date=27 August 2017|archive-url=https://web.archive.org/web/20170827015107/http://www.nytimes.com/2012/02/15/business/global/portugals-debt-efforts-may-be-a-warning-for-greece.html|url-status=live}}</ref> At the end of 2023, the share of debt as percentage of GDP fell below 100 percent, to 97.9%.<ref>{{cite web |title=Procedimento dos Défices Excessivos 2ª Notificação|url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=645949245&DESTAQUESmodo=2 |website=www.ine.pt |publisher=INE |access-date=14 October 2024}}</ref>
As of 2023, the average salary in the private sector was €1,505 per month,<ref>{{cite web |title=Salário médio por trabalhador atingiu 1.505 euros em 2023 |url=https://www.portugal.gov.pt/pt/gc23/comunicacao/comunicado?i=salario-medio-por-trabalhador-atingiu-1505-euros-em-2023 |website=www.portugal.gov.pt |access-date=10 October 2024}}</ref> and the [[minimum wage]], which is regulated by law, is
[[File:Vehículos en el puerto de Setúbal, Portugal, 2019-05-24, DD 01.jpg|thumb|[[Volkswagen Autoeuropa]] cars in the Port of Setúbal]]
Companies listed on [[Euronext Lisbon]] [[stock exchange]] like [[Energias de Portugal|EDP]], [[Galp Energia|Galp]], [[Jerónimo Martins]], [[Mota-Engil]], [[Novabase]], [[Semapa]], [[Portucel Soporcel]], [[Portugal Telecom]] and [[Sonae]], are among the largest corporations by number of employees, [[net income]] or international [[market share]]. The Euronext Lisbon is the major stock exchange and part of the pan-European group of stock exchanges [[Euronext]]. The [[PSI-20]] is Portugal's most selective and widely known [[stock index]].
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=== Visual art ===
{{main|Portuguese art}}
[[File:A Adoração dos Magos (1828) - Domingos Sequeira.png|thumb|right|[[Domingos Sequeira]] was one of the most prolific [[neoclassicism|neoclassical]] painters ([[Adoration of the Magi (Sequeira)|''Adoration of the Magi''; 1828]]).]]
Portugal has a [[List of Portuguese artists|rich history in painting]]. The first well-known painters dating back to the 15th century – like [[Nuno Gonçalves]] and [[Grão Vasco|Vasco Fernandes]] – were part of the late Gothic painting period.<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/nuno-goncalves/|title=O mítico Nuno Gonçalves|date=2012|website=RTP Ensina|access-date=4 January 2025}}</ref><ref>{{Cite web|url=https://ensina.rtp.pt/artigo/nuno-goncalves/|title=Grão Vasco, o lendário pintor de Viseu|date=2012|website=RTP Ensina|access-date=4 January 2025}}</ref> During the Renaissance, Portuguese painting was highly influenced by Northern European painting.<ref>{{Cite web|url=https://estudoemcasaapoia.dge.mec.pt/recurso/producao-artistica-em-portugal-manuelino-e-tendencias-do-renascimento|title=Produção Artística em Portugal: Manuelino e tendências do Renascimento|website=[[Ministry of Education (Portugal)|Ministry of Education]]|access-date=4 January 2025}}</ref> In the Baroque period [[Josefa de Óbidos]] and [[Vieira Lusitano]] were the most prolific painters.<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/josefa-de-obidos-1630-ou1634-1684/|title=Josefa de Óbidos, a pintora das naturezas mortas|date=2012|website=RTP Ensina|access-date=4 January 2025}}</ref>
[[José Malhoa]], known for his work ''Fado'', and [[Columbano Bordalo Pinheiro]] (who painted the portraits of [[Teófilo Braga]] and [[Antero de Quental]]) were both references in [[Naturalist school of painting|naturalist painting]].<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/jose-malhoa-1855-1933/|title=José Malhoa, pintor de costumes e tradições|date=2012|website=RTP Ensina|access-date=4 January 2025}}</ref><ref>{{Cite web|url=https://ensina.rtp.pt/artigo/columbano-bordalo-pinheiro-1857-1929/|title=Columbano Bordalo Pinheiro, mestre do retrato|date=2012|website=RTP Ensina|access-date=4 January 2025}}</ref>
The 20th century saw the arrival of [[Modernism]], and along with it came the most prominent Portuguese painters: [[Amadeo de Souza-Cardoso]], who was heavily influenced by French painters, particularly the Delaunays ([[Robert Delaunay|Robert]] and [[Sonia Delaunay|Sonia]]).<ref>{{Cite web|url=https://www.nationalgeographic.pt/historia/amadeo-souza-cardoso-biografia-o-genio_4346|title=Amadeo de Souza-Cardoso: O génio que viveu furiosamente|date=5 June 2024|website=National Geographic Portugal|access-date=4 January 2025}}</ref> Among his best-known works is ''Canção Popular – a Russa e o Fígaro''. Other great modernist painters/writers include [[Carlos Botelho]] and [[Almada Negreiros]], friend to the poet [[Fernando Pessoa]], who painted Pessoa's portrait. He was deeply influenced by both [[Cubist]] and [[Futurism (art)|Futurist]] trends.<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/jose-de-almada-negreiros/|title=José de Almada Negreiros: artista multimédia|date=1999|website=RTP Ensina|access-date=4 January 2025}}</ref><ref>{{Cite web|url=https://arquivos.rtp.pt/conteudos/botelho-um-olhar-na-cidade/|title=Botelho: um Olhar na Cidade|date=5 May 1982|website=RTP|access-date=4 January 2025}}</ref>
Prominent international figures in visual arts today include painters [[Vieira da Silva]],<ref>{{Cite web|url=https://gulbenkian.pt/cam/artist/maria-helena-vieira-da-silva/|title=Maria Helena Vieira da Silva|website=[[Calouste Gulbenkian Foundation]]|access-date=4 January 2025}}</ref> [[Júlio Pomar]],<ref>{{Cite web|url=https://gulbenkian.pt/cam/artist/julio-pomar/|title=Júlio Pomar|website=[[Calouste Gulbenkian Foundation]]|access-date=4 January 2025}}</ref> [[Joana Vasconcelos]],<ref>{{Cite web|url=https://www.rtp.pt/programa/tv/p44926/e5|title=Joana Vasconcelos|date=2024|website=RTP|access-date=4 January 2025}}</ref> [[Julião Sarmento]]<ref>{{Cite web|url=https://gulbenkian.pt/cam/artist/juliao-sarmento/|title=Julião Sarmento |website=[[Calouste Gulbenkian Foundation]]|access-date=4 January 2025}}</ref> and [[Paula Rego]].<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/uma-biografia-de-paula-rego/|title=Uma biografia de Paula Rego|date=2022|website=RTP Ensina|access-date=4 January 2025}}</ref>
=== Literature ===
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{{Main|Music of Portugal}}
{{Moresources|section|date=December 2024}}[[File:AmaliaRodrigues1969 (cropped).jpg|thumb|[[Amália Rodrigues]] performing in 1969]]
The Music of Portugal encompasses a wide variety of genres. The traditional one is the Portuguese folk music which has deep roots in local customs, utilising instruments such as [[bagpipes]] (''[[Gaita (bagpipe)|gaita]]''),<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/o-gaiteiro-mirandes/|title=O gaiteiro mirandês|date=2000|website=RTP Ensina|access-date=4 January 2025}}</ref> drums, flutes, tambourines, accordions and ukuleles (''[[cavaquinho]]'').<ref>{{Cite web|url=https://ensina.rtp.pt/artigo/o-cavaquinho-para-o-mundo/|title=O “Cavaquinho” para o mundo|date=2013|website=RTP Ensina|access-date=4 January 2025}}</ref> Within Portuguese folk music is the renowned genre of [[Fado]], a melancholic urban music originated in [[Lisbon]] in the 19th century, probably inside bohemian environments, usually associated with the [[Portuguese guitar]] and ''saudade'', or longing.<ref>{{Cite web|url=https://www.museudofado.pt/en/fado-history-en|title=Fado History|website=Museu do Fado|access-date=4 January 2025}}</ref> [[Coimbra fado]], a unique type of "[[troubadour]] serenading" fado, is also noteworthy. Internationally notable performers include [[Amália Rodrigues]], [[Carlos Paredes]], [[José Afonso]], [[Mariza]], [[Carlos do Carmo]], [[António Chainho]], [[Mísia]], [[Dulce Pontes]] and [[Madredeus]].<ref>{{Cite web|url=https://arquivos.rtp.pt/colecoes/amalia-rodrigues/|title=Amália Rodrigues|date=2013|website=Museu do Fado|access-date=4 January 2025}}</ref><ref>{{Cite web|url=https://www.rtp.pt/programa/tv/p32352|title=Carlos do Carmo: Um Homem no Mundo|date=2013|website=RTP|access-date=4 January 2025}}</ref>
In addition to [[Folk music|Folk]], Fado and Classical music, other genres are present at Portugal like pop and other types of modern music, particularly from North America and the United Kingdom, as well as a wide range of Portuguese, Caribbean, Lusophone African and Brazilian artists and bands. Artists with international recognition include [[Dulce Pontes]],<ref>{{Cite web|url=https://www.imdb.com/name/nm1487930/bio/|title=Dulce Pontes|website=imdb.com|access-date=4 January 2025}}</ref> [[Moonspell]],<ref>{{Cite web|url=https://www.publico.pt/2024/10/25/culturaipsilon/entrevista/principio-morbid-god-sonho-vieram-moonspell-sucesso-2108716|title=No princípio havia os Morbid God e um sonho, depois vieram os Moonspell e o sucesso|date=25 October 2024|website=Público|access-date=4 January 2025}}</ref> [[Buraka Som Sistema]],<ref>{{Cite web|url=https://media.rtp.pt/festivaldacancao/autores/blasted/|title=Blasted Mechanism|website=RTP|access-date=4 January 2025}}</ref> [[Blasted Mechanism]],<ref>{{Cite web|url=https://www.publico.pt/2016/03/11/culturaipsilon/noticia/terminar-porque-1725625|title=Buraka Som Sistema: dez anos da história mais surpreendente da música portuguesa |website=Público|date=11 March 2016|access-date=4 January 2025}}</ref> [[David Carreira]] and [[The Gift (band)|The Gift]],<ref>{{Cite web|url=https://www.infopedia.pt/artigos/$the-gift|title=The Gift|date=2013|website=infopédia|access-date=4 January 2025}}</ref> with the three latter being nominees for a [[MTV Europe Music Award]].<ref>{{Cite web|url=https://www.rtp.pt/noticias/cultura/premios-europeus-da-mtv_n155279|title=Prémios Europeus da MTV|website=RTP|date=3 November 2005|access-date=4 January 2025}}</ref><ref>{{Cite web|url=https://www.rtp.pt/noticias/cultura/david-carreira-venceu-premio-da-mtv_v960106|title=David Carreira venceu prémio da MTV|website=RTP|date=7 November 2016|access-date=5 January 2025}}</ref>
Portugal has several summer music festivals, such as ''[[Festival Sudoeste]]'' in [[Zambujeira do Mar]],<ref>{{Cite web|url=https://www.sabado.pt/gps/musica/detalhe/o-que-slow-j-gostaria-de-ver-no-meo-sudoeste|title=O que Slow J gostaria de ver no MEO Sudoeste|date=1 July 2023|website=Sábado|access-date=4 January 2025}}</ref> ''[[Festival de Paredes de Coura]]'' in [[Paredes de Coura]],<ref>{{Cite web|url=https://sicnoticias.pt/especiais/vodafone-paredes-de-coura/2023-08-15-30-anos-do-Paredes-de-Coura-quatro-amigos-sonharam-pegaram-em-160-contos-e-fizeram-um-festival-0ea8f863|title=30 anos do Paredes de Coura: quatro amigos sonharam, pegaram em 160 contos e fizeram um festival|date=15 August 2023|website=SIC Notícias|access-date=4 January 2025}}</ref> ''[[Festival Vilar de Mouros]]'' near [[Caminha]], ''[[Boom Festival]]'' in [[Idanha-a-Nova|Idanha-a-Nova
[[File:Carlos Damas Portuguese virtuoso Violinist.jpg|thumb|Carlos Damas in concert]]
The student festivals of ''[[Queima das Fitas]],'' which are major events in a number of cities across Portugal, show every year a selection of well-established, high-profile musicians and bands to the public as well as newer, on the rise, upcoming success artists seeking definite recognition.<ref>{{Cite web |title=Queima das Fitas: A Festa dos Universitários em Portugal |url=https://atlanticbridge.com.br/artigos/queima-das-fitas |access-date=25 May 2023 |website=Atlantic Bridge |language=en |archive-date=25 May 2023 |archive-url=https://web.archive.org/web/20230525234154/https://atlanticbridge.com.br/artigos/queima-das-fitas |url-status=live }}</ref> In 2005, Portugal held the [[MTV Europe Music Awards]], in [[Pavilhão Atlântico]], [[Lisbon]].<ref>{{Cite web|url=https://www.imdb.com/title/tt0495859/|title=MTV Europe Music Awards Lisboa 2005|website=imdb.com|access-date=4 January 2025}}</ref> Furthermore, Portugal won the [[Eurovision Song Contest 2017]] in [[Kyiv]] with the song "[[Amar pelos dois]]" presented by [[Salvador Sobral]], and subsequently hosted the [[Eurovision Song Contest 2018|2018 contest]].<ref>{{cite web |date=14 May 2017 |title=Portugal Wins the 2017 Eurovision Song Contest! |url=https://eurovision.tv/story/portugal-salvador-sobral-winner-eurovision-2017 |access-date=2 August 2017 |publisher=Eurovision Song Contest |archive-date=14 October 2017 |archive-url=https://web.archive.org/web/20171014103948/https://eurovision.tv/story/portugal-salvador-sobral-winner-eurovision-2017 |url-status=live }}</ref><ref>{{cite web |date=25 July 2017 |title=Lisbon revealed as Host City of the 2018 Eurovision Song Contest! |url=https://eurovision.tv/story/eurovision-2018-dates-and-host-city-confirmed |access-date=20 April 2021 |publisher=Eurovision Song Contest |archive-date=4 August 2017 |archive-url=https://web.archive.org/web/20170804042227/https://eurovision.tv/story/eurovision-2018-dates-and-host-city-confirmed |url-status=live }}</ref>
Portuguese classical music constitutes an important chapter of Western music.<ref>{{Cite web|url=https://www.infopedia.pt/artigos/$musica-classica-portuguesa-(sec.-xviii)|title=Música Clássica Portuguesa (séc. XVIII)|website=Infopédia|access-date=4 January 2025}}</ref> Over the centuries, names of composers and performers have stood out, such as the troubadours [[Martim Codax]]<ref>{{Cite web|url=https://www.infopedia.pt/artigos/$martin-codax|title=Martin Codax|website=Infopédia|access-date=4 January 2025}}</ref> and [[
=== Sport ===
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