From Crisis to Convergence: Charting a Course for Portugal
March 25, 2016
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Summary
In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.
Subject: Expenditure, Labor, Labor markets, Macrostructural analysis, Public debt, Structural reforms
Keywords: debt, DP, DPPP, DVA export, Global, government policy, growth prospect, Labor markets, misallocation of resource, Portugal, Portugal's growth challenge, resource, Southern Europe, Structural reforms, tradables sector
Pages:
123
Volume:
2016
DOI:
Issue:
005
Series:
Departmental Paper No. 2016/005
Stock No:
FCCEA
ISBN:
9781513597225
ISSN:
2616-5333
