Portugal: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

International Monetary Fund

No 2019/221, IMF Staff Country Reports from International Monetary Fund

Abstract: After a strong performance in 2017, economic activity has moderated. The second half of 2018 was marked by a deceleration, coinciding with weaker economic activity in Europe. The headline fiscal balance improved, with a small increase in the structural primary balance reflecting a strict budget execution. The current account turned negative in 2018 in conjunction with a deterioration of the balance of trade in goods and services. Total credit to the nonfinancial private sector continued to decline in 2018. Nevertheless, over the last 4 years the Portuguese banking system has been strengthening its balance sheet and its performance.

Keywords: ISCR; CR; deficit; Q4; GDP; Portugal; consumer price inflation; asset quality; supervision framework bill; output gap; balance sheet risk; legacy asset; core FSIs; potential GDP; private sector; Fiscal stance; Loans; Credit; Global; Europe (search for similar items in EconPapers)
Pages: 75
Date: 2019-07-12
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