Portugal: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by Executive Director for Portugal
IMF Staff Country Reports, October 11, 2007
Source details
- Canonical URL
- Portugal: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by Executive Director for Portugal
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Bibliographic details
- Published: October 11, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451832280.002
Key findings and summary
- A modest recovery is finally under way in Portugal.
- Growth rose to 1.3 percent in 2006, led by strong external demand.
- Export growth is experiencing a notable rebound.
- Corporate investment shows signs of strengthening.
- Overall domestic demand remains relatively weak.
- Portugal’s financial system remains sound and well supervised and appears to have weathered the recent tensions in financial markets relatively well, though risks remain.
Growth, demand, and investment
- Real GDP growth: 1.3 percent in 2006.
- Drivers:
- Strong external demand is driving a notable rebound in export growth.
- Corporate investment is showing signs of strengthening in response to external demand.
- Constraints:
- Overall domestic demand remains relatively weak.
Projections
- Real GDP growth is projected to strengthen to about 1.8 percent in 2007 and 1.8 percent in 2008.
Financial sector assessment
- The financial system is described as sound and well supervised.
- The system appears to have weathered the recent tensions in financial markets relatively well.
- Remaining concerns:
- Risks associated with market tensions persist.
Thematic coverage (subjects and keywords noted)
- Subjects covered: Competition, Financial markets, Fiscal policy, Fiscal stance, Labor, Labor costs, Labor markets, Public debt.
- Keywords included: bank equity price, banks' liquidity, Competition, CR, current account, deficit, deficit target, equity, Fiscal stance, Global, ISCR, Labor costs, Labor markets, labor productivity growth, liquidity position, market tension, tensions in financial markets, trend productivity growth.
International Monetary Fund. "Portugal: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by Executive Director for Portugal", IMF Staff Country Reports 2007, 341 (2007), October 11, 2007.
Content in this bundle
- _cr07341 - Executive Summary