IMF Staff Country Reports

Portugal : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

September 12, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The Portuguese economy performed strongly in 2017. Investment and exports were the key drivers of growth. Labor market conditions continued to improve, with falling unemployment and broad-based employment creation. The underlying fiscal balance posted a strong improvement, which can be attributed to buoyant economic growth, controlled budget execution, and falling interest costs, and has contributed to more favorable financing terms throughout the economy. Stability and confidence in the banking system strengthened following successful efforts by banks to raise capital and reduce NPLs, and the sale of Novo Banco in 2017.

Series:

Country Report No. 18/273

Subject:

Article IV consultation reports Current account surpluses Debt sustainability analysis Economic indicators Fiscal policy Housing prices Investment Labor productivity Loans Macroprudential policies and financial stability Mortgages Press releases Staff reports