Portugal: Staff Report for the 2005 Article IV Consultation

International Monetary Fund

No 2005/375, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff report for the 2005 Article IV Consultation on Portugal highlights economic developments and outlook. Private consumption has proven resilient, reflecting low interest rates and lengthening tenors on bank lending, while investment and export growth remained weak. Executive Directors concurred that in an unfavorable context marked by large fiscal and external imbalances, slow growth, and a weak competitive position, the challenge confronting the Portuguese government is to create the conditions to restart Portugal’s per capita income convergence toward the euro area average as soon as possible.

Keywords: ISCR; CR; staff appraisal; Industial production; unprocessed food product; GDP; consumer confidence; short-term indicator; Socialist party; IMF staff representative; Fiscal stance; Global (search for similar items in EconPapers)
Pages: 52
Date: 2005-10-20
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