Portugal: Sixth Post-Program Monitoring Discussions — Press Release; Staff Report
IMF Staff Country Reports, February 22, 2018
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- Portugal: Sixth Post-Program Monitoring Discussions — Press Release; Staff Report
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Bibliographic details
- Published: February 22, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484342923.002
Economic performance
- The Portuguese economy has strengthened.
- Job-rich growth has gathered momentum since late 2016, supported by a benign external environment.
Fiscal position
- The headline fiscal balance benefited from stronger growth, controlled budget execution, and falling interest costs.
- The 2017 deficit target of 1.4 percent of GDP is likely to have been met with some margin.
Financial stability
- Financial stability has improved with various bank capital augmentations.
- The sale of Novo Banco in 2017 contributed to strengthened financial-sector stability.
Outlook and risks
- Growth is projected at 2.2 percent in 2018.
- Downside risks in the near term are mostly external in nature and appear moderate.
Key statistics and dated events
- Job-rich growth accelerated since late 2016.
- 2017 deficit target: 1.4 percent of GDP.
- Sale of Novo Banco: 2017.
- Growth projection for 2018: 2.2 percent.
International Monetary Fund. Portugal: Sixth Post-Program Monitoring Discussions; Staff Report (Press Release), February 22, 2018.
Content in this bundle
- Country Report