Portugal: Staff Report for the 2002 Article IV Consultation

International Monetary Fund

No 2003/099, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2002 Article IV Consultation on Portugal highlights that after an extended strong economic expansion, the GDP growth stalled in 2002 and, at 0.5 percent, fell below the euro area average for the first time in almost a decade. The growth slowdown reflected a broad-based decline in domestic demand as households began to adjust to high indebtedness levels and a deteriorating employment outlook. Investment continued to fall amid slowing demand prospects and rising global and domestic uncertainty. The weakness in domestic demand led to a decline of imports.

Keywords: ISCR; CR; deficit; deficit estimate; estimate; outturn; GDP; asset sale; indebtedness level; credit growth; IMF's assessment; IMF to the public; Fiscal consolidation; Fiscal stance; Asset management; Global; Europe (search for similar items in EconPapers)
Pages: 46
Date: 2003-04-09
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