António de Oliveira Salazar GCTE GCSE GColIH GCIC was a Portuguese statesman and economist who served as the prime minister of Portugal from 1932 to 1968. He was responsible for the Estado Novo, the corporatist authoritarian government that ruled Portugal until 1974.
A trained economist, Salazar entered public life as finance minister with the support of President Óscar Carmona after the Portuguese coup d'état of 28 May 1926. The military of 1926 saw themselves as the guardians of the nation in the wake of the instability and perceived failure of the First Republic, but they had no clue how to address the critical challenges of the hour. Within one year, armed with special powers, Salazar balanced the budget and stabilized Portugal's currency. Salazar produced the first of many budgetary surpluses. He promoted civilian administration in the authoritarian regime when the politics of more and more countries were becoming militarized. Salazar's aim was the de-politicization of society, rather than the mobilization of the populace. However, Portugal remained largely underdeveloped, its population relatively poor and with low education attainment when compared to the rest of Europe.