Portugal : First Review Under the Extended Arrangement

Publication Date: September 13, 2011
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Summary: Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government’s strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as envisaged under the program. To support activity, it is crucial to prevent an excessively rapid deleveraging of the banking sector. Ultimately, the success of the program hinges on opening up the economy and improving competitiveness. The European Council’s renewed support enhances prospects for the program’s success.
Series: Country Report No. 11/279
Subject(s): Economic forecasting | Economic indicators | Extended arrangement reviews | Financial sector | Financial stability | Fiscal reforms | Letters of Intent

Publication Date: September 13, 2011
ISBN/ISSN: 9781463902971/1934-7685 Format: Paper
Stock No: 1PRTEA2011002 Pages: 111
US$18.00 (Academic Rate:
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