Unemployment reached a record 17 percent in 2013. Almost 4 percent of the population emigrated over the past four years. Strikes and mass demonstrations paralyzed Lisbon.
Lately though, Passos Coelho, 51, has been able to point to signs his unpopular reforms are starting to pay off.
In June, the economy recorded five quarters of unbroken growth for the first time since the 1990s. Exports and tourism have boomed. Unemployment has fallen 5 percentage points.
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