Portugal: 2006 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Portugal
October 24, 2006
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Important progress can be seen in the economic and policy environment in Portugal, but challenges remain. Firm implementation of strategy is essential to meet these challenges. It will be essential that expenditure measures move to the forefront, realizing the planned shift away from revenue-based adjustment. Fiscal adjustment will be needed to ensure long-term sustainability. A credible deficit reduction strategy is essential to raise potential growth. The financial system is sound and well supervised, but the government should continue to monitor risks closely.
Subject: Competition, Economic sectors, Financial markets, Financial Sector Assessment Program, Fiscal policy, Fiscal stance, Public debt, Public sector, Revenue administration
Keywords: budget proposal, Competition, CR, deficit target, financial system, Fiscal stance, Global, growth forecast, ISCR, Public sector, staff appraisal, staff attrition
Pages:
54
Volume:
2006
DOI:
Issue:
377
Series:
Country Report No. 2006/377
Stock No:
1PRTEA2006001
ISBN:
9781451832204
ISSN:
1934-7685
