Portugal: 2023 Article IV Consultation-Press Release; and Staff Report

June 22, 2023

Preview Citation

Format: Chicago

Portugal: 2023 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The Portuguese economy has sustained its dynamic recovery from the pandemic. Driven by private consumption and external demand, growth in 2022 was markedly higher than the euro area (6.7 percent versus 3.5 percent). Growth is projected to slow to 2.6 percent in 2023, with downdrafts from higher cost of living on domestic demand and a slower external demand growth. Headline inflation is expected to decline from 8.1 percent in 2022 to 5.6 percent in 2023, with core inflation declining more gradually. Near-term risks to the outlook are broadly balanced—key downside risks arise from tighter-than-projected financial conditions and weaker global growth, offset by upsides from tourism.

Subject: Financial sector policy and analysis, Fiscal policy, Fiscal stance, International organization, Labor, Labor markets, Monetary policy, Public debt, Systemic risk

Keywords: Fiscal stance, Global, Housing market strain, Housing supply, IMF staff calculation, Labor markets, Money market rate, Portfolio investment data collection system, Special purpose entity data collection initiative, Systemic risk

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/218
Stock No:

1PRTEA2023001
ISBN:

9798400246050
ISSN:

1934-7685

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