Portugal: Recent Economic Developments
December 19, 1995
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This paper reviews economic developments in Portugal during 1990–95. Economic activity rebounded weakly in 1994, growing by 1 percent after a fall of 1.2 percent in 1993. The recession in 1993 was deeper, and the recovery in 1994 weaker than that experienced by the European Union as a whole. Thus, real convergence with Europe was interrupted: although Portuguese GDP per capita increased from 51.4 percent of the European Union average in 1985 to 64.8 percent in 1992, it fell back to 64.4 percent by 1994.
Subject: Banking, Credit, Economic sectors, External debt, National accounts, Public debt, Public enterprises, Public sector
Keywords: broad money, CR, Europe, exchange rate, first quarter, foreign exchange, Global, ISCR, Portuguese escudo, Public enterprises, Public sector, terms of trade, U.S. dollar
Pages:
170
Volume:
1995
DOI:
Issue:
124
Series:
Country Report No. 1995/124
Stock No:
1PRTEA0011995
ISBN:
9781451832082
ISSN:
1934-7685
Notes
This report on recent economic developments in Portugal was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Portugal, or the Executive Board of the IMF.
