Portugal : Second Review Under the Extended Arrangement

Author/Editor:

International Monetary Fund

Publication Date:

December 20, 2011

Electronic Access:

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Summary:

Portugal’s economic adjustment has continued, but the contraction in output has been milder than expected. The 2012 outlook for Europe has deteriorated substantially, with growth revised down by 1¼ percentage points relative to spring forecasts. Substantially higher capital requirements across Europe, coupled with cuts in exposure to the periphery, are placing further pressure on banks and the flow of credit. The authorities have made significant progress in revenue administration reform and public administration restructuring.

Series:

Country Report No. 11/363

Subject:

English

Publication Date:

December 20, 2011

ISBN/ISSN:

9781463928612/1934-7685

Stock No:

1PRTEA2011003

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

129

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