IMF Staff Country Reports

Portugal: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

Publication Date:

July 12, 2019

Electronic Access:

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Summary:

After a strong performance in 2017, economic activity has moderated. The second half of 2018 was marked by a deceleration, coinciding with weaker economic activity in Europe. The headline fiscal balance improved, with a small increase in the structural primary balance reflecting a strict budget execution. The current account turned negative in 2018 in conjunction with a deterioration of the balance of trade in goods and services. Total credit to the nonfinancial private sector continued to decline in 2018. Nevertheless, over the last 4 years the Portuguese banking system has been strengthening its balance sheet and its performance.

Series:

Country Report No. 2019/221

Subject:

Banking Credit Financial institutions Fiscal policy Fiscal stance Labor Loans Money Public debt