Portugal: Fifth Post Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Portugal

February 22, 2017

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Format: Chicago

Portugal: Fifth Post Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Portugal, (USA: International Monetary Fund, 2017) accessed November 4, 2024

Summary

The Fifth Post-Program Monitoring Discussions with Portugal highlight a welcome upturn in growth in the second half of 2016 after a sluggish first half, boosted by stronger exports and a further decline in unemployment to precrisis levels. These developments point to an improved near-term outlook, but medium-term growth could be put on a more sustainable footing by reducing structural bottlenecks and high levels of corporate debt. The revised 2016 fiscal target appears likely to have been met, but prospective public outlays for banking sector recapitalization continue to weigh on public debt trends.

Subject: Banking, Commercial banks, Credit, Financial institutions, Fiscal consolidation, Fiscal policy, Loans, Money, Public debt

Keywords: Commercial banks, CR, Credit, Debt, Economy, Fiscal consolidation, Fiscal consolidation path, Global, Government strategy, Government's view, Growth, Growth potential, ISCR, Loans, Resilience, Southern Europe, State budget

Publication Details

Pages:

49
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/058
Stock No:

1PRTEA2017001
ISBN:

9781475580198
ISSN:

1934-7685

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