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Portugal: failing to catch up?

Author

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  • Oscar-Erich Kuntze

Abstract

In Portugal the catching-up process did not make any further headway over the average of EU countries in 2001. Real GDP increased only by 18%, insignificantly higher than the EU mean. The annual unemployment rate remained at 4.1 %. The inflation rate was 4.4%. In 2002 real GDP will expand probably by only around 1%. On the labour market the situation has deteriorated. The annual unemployment rate will average 5%, consumer prices will increase by 3¼%, well above the level of the previous year. In 2003 GDP will increase by just 2%. The unemployment rate will expand to 5½% and prices will exceed the level of 2002 by around 3%.

Suggested Citation

  • Oscar-Erich Kuntze, 2002. "Portugal: failing to catch up?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(12), pages 26-34, June.
    • Handle: RePEc:ces:ifosdt:v:55:y:2002:i:12:p:26-34
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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