Portugal : First Review Under the Extended Arrangement

Author/Editor:

International Monetary Fund

Publication Date:

September 13, 2011

Electronic Access:

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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:

English

Publication Date:

September 13, 2011

ISBN/ISSN:

9781463902971/1934-7685

Stock No:

1PRTEA2011002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

111

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