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Portugal; Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Portugal

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  • International Monetary Fund

Abstract

This 2009 Article IV Consultation highlights that the global economic crisis has severely affected the Portuguese economy. Output will likely contract by almost 3 percent in 2009, driven by sharp falls in exports and investment. Despite a substantial rise in unemployment to nearly 10 percent, wage growth remained brisk. Encouragingly, some signs of adjustment are emerging, as prices have fallen faster than in the euro area. Executive Directors have encouraged the authorities to prepare a credible fiscal consolidation plan that would prevent further deterioration in fiscal balances.

Suggested Citation

  • International Monetary Fund, 2010. "Portugal; Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Portugal," IMF Staff Country Reports 10/18, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:10/18
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=23541
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    References listed on IDEAS

    as
    1. Vanda Almeida & Gabriela Castro & Ricardo Félix, 2010. "Improving competition in the non-tradable goods and labour markets: the Portuguese case," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 9(3), pages 163-193, December.
    2. Vanda Almeida & Gabriela Castro & Ricardo Félix, 2010. "Improving competition in the non-tradable goods and labour markets: the Portuguese case," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 9(3), pages 163-193, December.
    3. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
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