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Portugal: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

International Monetary Fund

No 2017/278, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2017 Article IV Consultation highlights that Portugal has made notable progress over the past year in reducing uncertainty over near-term risks. The exit from the Excessive Deficit Procedure in 2017, together with a marked improvement in stability and confidence in the banking system, have helped bolster investor confidence and contributed to a sharp narrowing in sovereign debt spreads since mid-March. The near-term growth outlook has also improved considerably as the ongoing recovery continues to gain momentum, with a pickup in exports and investment alongside the continued growth in private consumption. Tourism remains a key driver of growth, but has also been accompanied by a broad-based pickup in exports of goods in recent quarters.

Keywords: ISCR; CR; Portugal; near-term growth outlook; export; portfolio investment data collection system; export share; money market rate; impairment coverage ratio; Portugal's productivity; Nonperforming loans; Loans; Credit; Public sector; Europe; Southern Europe; Global (search for similar items in EconPapers)
Pages: 64
Date: 2017-09-15
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