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

September 15, 2017

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Format: Chicago

Portugal: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

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.

Subject: Banking, Credit, Economic sectors, Financial institutions, Loans, Money, Nonperforming loans, Public debt, Public sector

Keywords: CR, Credit, Europe, Export, Export share, Global, Impairment coverage ratio, ISCR, Loans, Money market rate, Near-term growth outlook, Nonperforming loans, Portfolio investment data collection system, Portugal, Portugal's productivity, Public sector, Southern Europe

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/278
Stock No:

1PRTEA2017002
ISBN:

9781484319338
ISSN:

1934-7685

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