Portugal: Staff Report for the 2001 Article IV Consultation

April 26, 2002

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Portugal: Staff Report for the 2001 Article IV Consultation, (USA: International Monetary Fund, 2002) accessed December 23, 2024

Summary

This 2001 Article IV Consultation highlights that after an extended period of real convergence in living standards toward the euro area average, the Portuguese economy weakened markedly in 2001. GDP growth in 2001 is estimated at about 1.6 percent, about half the rate recorded over the previous two years. The growth slowdown reflected to some extent the waning effect of euro-entry-related declines in interest rates and private sector responses to rising indebtedness levels. Inflation has continued to exceed the euro area average, reflecting to an important extent relatively strong cost pressures in Portugal.

Subject: Balance of payments, Banking, Budget planning and preparation, Current account deficits, Economic sectors, Expenditure, Financial sector, Fiscal policy, Fiscal stance, Public financial management (PFM)

Keywords: Authority, Budget planning and preparation, CR, Credit growth, Current account deficits, Deficit, Economic growth, Euro, Financial sector, Fiscal policy, Fiscal stance, Global, Growth slowdown, Growth well, ISCR, Participation rate

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/090
Stock No:

1PRTEA0012002
ISBN:

9781451832143
ISSN:

1934-7685

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