Portugal : First Review Under the Extended Arrangement.

Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government's strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as envisaged un...

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Bibliografiske detaljer
Institution som forfatter: International Monetary Fund
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2011.
Serier:IMF Staff Country Reports; Country Report ; No. 2011/279
Online adgang:Full text available on IMF
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520 3 |a Macroeconomic imbalances are large, and structural problems are deep-rooted in Portugal. The new government's strong commitment to program implementation is encouraging. Fiscal performance so far demonstrates the need to refocus the fiscal strategy on strong expenditure control, as envisaged under the program. To support activity, it is crucial to prevent an excessively rapid deleveraging of the banking sector. Ultimately, the success of the program hinges on opening up the economy and improving competitiveness. The European Council's renewed support enhances prospects for the program's success. 
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