Portugal: Staff Report for the 2001 Article IV Consultation

International Monetary Fund

No 2002/090, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2001 Article IV Consultation highlights that after an extended period of real convergence in living standards toward the euro area average, the Portuguese economy weakened markedly in 2001. GDP growth in 2001 is estimated at about 1.6 percent, about half the rate recorded over the previous two years. The growth slowdown reflected to some extent the waning effect of euro-entry-related declines in interest rates and private sector responses to rising indebtedness levels. Inflation has continued to exceed the euro area average, reflecting to an important extent relatively strong cost pressures in Portugal.

Keywords: ISCR; CR; deficit; euro; authority; credit growth; growth slowdown; growth well; fiscal policy; economic growth; participation rate; Budget planning and preparation; Fiscal stance; Current account deficits; Financial sector; Global (search for similar items in EconPapers)
Pages: 40
Date: 2002-04-26
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