{
  "title": "Portugal: Sixth Post-Program Monitoring Discussions — Press Release; Staff Report",
  "publication": "IMF Staff Country Reports, February 22, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/02/22/portugal-sixth-post-program-monitoring-discussions-press-release-staff-report-45650",
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  "summary": "This paper presents an overview of the Sixth Post-Program Monitoring Discussions with Portugal. The Portuguese economy has strengthened. Supported by a benign external environment, job-rich growth has gathered momentum since late 2016.",
  "sections": [
    {
      "heading": "Economic performance",
      "content": "- The Portuguese economy has strengthened.\n- Job-rich growth has gathered momentum since late 2016, supported by a benign external environment."
    },
    {
      "heading": "Fiscal position",
      "content": "- The headline fiscal balance benefited from stronger growth, controlled budget execution, and falling interest costs.\n- The 2017 deficit target of 1.4 percent of GDP is likely to have been met with some margin."
    },
    {
      "heading": "Financial stability",
      "content": "- Financial stability has improved with various bank capital augmentations.\n- The sale of Novo Banco in 2017 contributed to strengthened financial-sector stability."
    },
    {
      "heading": "Outlook and risks",
      "content": "- Growth is projected at 2.2 percent in 2018.\n- Downside risks in the near term are mostly external in nature and appear moderate."
    },
    {
      "heading": "Key statistics and dated events",
      "content": "- Job-rich growth accelerated since late 2016.\n- 2017 deficit target: 1.4 percent of GDP.\n- Sale of Novo Banco: 2017.\n- Growth projection for 2018: 2.2 percent.\n\nInternational Monetary Fund. Portugal: Sixth Post-Program Monitoring Discussions; Staff Report (Press Release), February 22, 2018.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 22, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484342923.002",
    "The Portuguese economy has strengthened.",
    "Job-rich growth has gathered momentum since late 2016, supported by a benign external environment.",
    "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 has improved with various bank capital augmentations.",
    "The sale of Novo Banco in 2017 contributed to strengthened financial-sector stability.",
    "Growth is projected at 2.2 percent in 2018.",
    "Downside risks in the near term are mostly external in nature and appear moderate.",
    "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.",
    "**Country Report**"
  ],
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