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  • International Monetary Fund. European Dept.
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    Abstract

    Portugal's program implementation is on track despite difficult economic conditions and significant legal challenges. The markedly weaker economic outlook provides a strong case for recalibrating the program’s fiscal targets. This strong adjustment effort needs to be consolidated by sustained fiscal structural reforms. Continued vigilance is warranted to secure financial stability. A more competitive economy for sustainable recovery requires addressing nominal rigidities forcefully. Program success also hinges on continued external support and effective crisis management policies at the euro area level.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=40671
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Staff Country Reports with number 13/160.

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    Length: 98
    Date of creation: 13 Jun 2013
    Date of revision:
    Handle: RePEc:imf:imfscr:13/160

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    Related research

    Keywords: Extended arrangement reviews; Fiscal policy; Fiscal consolidation; Public debt; Unemployment; Fiscal reforms; Privatization; Debt sustainability analysis; Banking sector; Economic indicators; Performance criteria modifications; Staff Reports; Press releases; Portugal; government debt; current account; debt restructuring; external debt; debt sustainability; public debt; current account deficit; government deficit; debt crisis; fiscal gap; central bank; debt dynamics; balance of payments; debt sustainability analysis; external debt sustainability; short-term debt; debt overhang; current account balance; sovereign debt crisis; private sector debt; public sector debt; reserve assets; debt stock; debt burdens; external financing; sovereign debt; repayments; domestic currency; budget law; debt burden; budget laws; public finance; debt ratio; long-term debt; budget expenditures; domestic investor; commercial creditors; amortization payments; crisis countries; debt restructuring operations; external payments; payment arrears; global liquidity; external payments arrears; external indebtedness; total external debt; public finances;

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