Portugal: Staff Report for the 2000 Article IV Consultation

November 20, 2000

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Portugal: Staff Report for the 2000 Article IV Consultation, (USA: International Monetary Fund, 2000) accessed September 20, 2024

Summary

Portugal showed impressive economic performance owing to its macroeconomic policies and structural reforms. Executive Directors commended the authorities for their stability-oriented policies, low inflation, and declining fiscal deficits. Nonetheless, economic policies needed to address signs of emerging macroeconomic imbalances, including the brisk growth of private sector credit, tight labor markets, and a persistent inflation differential in relation to other euro area countries. Moreover, an acceleration of structural reforms and further fiscal consolidation would be essential for a rapid and sustained convergence to European Union income levels.

Subject: Balance of payments, Credit, Current account, Current account deficits, Expenditure, Money, Public debt

Keywords: CR, Credit, Current account, Current account deficit, Current account deficits, Deficit, Deficit target, Euro area, Europe, GDP, Higher-than-expected oil price, Increase in capital expenditure, ISCR, Staff appraisal, Tax rate

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2000/152
Stock No:

1PRTEA0012000
ISBN:

9781451832136
ISSN:

1934-7685

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