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Portugal: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

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  • International Monetary Fund

Abstract

This 2017 Article IV Consultation highlights that Portugal has made notable progress over the past year in reducing uncertainty over near-term risks. The exit from the Excessive Deficit Procedure in 2017, together with a marked improvement in stability and confidence in the banking system, have helped bolster investor confidence and contributed to a sharp narrowing in sovereign debt spreads since mid-March. The near-term growth outlook has also improved considerably as the ongoing recovery continues to gain momentum, with a pickup in exports and investment alongside the continued growth in private consumption. Tourism remains a key driver of growth, but has also been accompanied by a broad-based pickup in exports of goods in recent quarters.

Suggested Citation

  • International Monetary Fund, 2017. "Portugal: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal," IMF Staff Country Reports 2017/278, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2017/278
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