Portugal: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

September 22, 2016

Preview Citation

Format: Chicago

Portugal: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal, (USA: International Monetary Fund, 2016) accessed November 22, 2024

Summary

This 2016 Article IV Consultation highlights that the economic recovery in Portugal is losing momentum. The slowdown in economic activity that began in the second half of 2015 has persisted, despite still-favorable cyclical tailwinds and supportive macroeconomic policy. The fiscal loosening in place since 2015 and the European Central Bank’s appropriately supportive monetary policy stance have translated into robust consumption growth. However, overall GDP growth is being held back by weaker export growth and sluggish investment, with the latter being weighed down by uncertainty, high levels of corporate debt, and still-pronounced structural bottlenecks. Output is expected to increase by only 1.0 percent in 2016.

Subject: Banking, Commercial banks, Consumption, Economic sectors, Financial institutions, Income, National accounts, Public debt, Public sector

Keywords: Article IV consultation discussion, Commercial banks, Confidence indicators in service, Consumption, CR, Debt, General government balance, Global, Growth, Holding, Income, Investment, Investment decision, ISCR, Macroeconomic position, Money market rate, Public sector, Recapitalization of firm, SDR Department

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/300
Stock No:

1PRTEA2016002
ISBN:

9781475538380
ISSN:

1934-7685

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