From Crisis to Convergence: Charting a Course for Portugal

By Dmitry Gershenson, Albert Jaeger, Subir Lall

March 25, 2016

Preview Citation

Format: Chicago

Dmitry Gershenson, Albert Jaeger, and Subir Lall. From Crisis to Convergence: Charting a Course for Portugal, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.

Subject: Expenditure, Labor, Labor markets, Macrostructural analysis, Public debt, Structural reforms

Keywords: Debt, DP, DPPP, DVA export, Global, Government policy, Growth prospect, Labor markets, Misallocation of resource, Portugal, Portugal's growth challenge, Resource, Southern Europe, Structural reforms, Tradables sector

Publication Details

Pages:

123
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No. 2016/005
Stock No:

FCCEA
ISBN:

9781513597225
ISSN:

2616-5333

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