Portugal: Staff Report for the 2000 Article IV Consultation
IMF Staff Country Reports, November 20, 2000
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- Portugal: Staff Report for the 2000 Article IV Consultation
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Bibliographic details
- Published: November 20, 2000
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451832136.002
Overview and Main Findings
- 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.
- Signs of emerging macroeconomic imbalances were identified:
- brisk growth of private sector credit
- tight labor markets
- a persistent inflation differential in relation to other euro area countries
Policy Analysis and Recommendations
- Economic policies needed to address the emerging macroeconomic imbalances listed above.
- An acceleration of structural reforms was deemed essential.
- Further fiscal consolidation was recommended to support a rapid and sustained convergence to European Union income levels.
Subjects and Keywords (as provided)
- 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