Portugal: 2006 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Portugal

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 377

Publication date: October 2006

ISBN: 9781451832204

$20.00

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Topics covered in this book

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Banks and Banking , Finance , Investments and Securities-General , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , budget proposal , staff attrition , growth forecast , deficit target , financial system , staff appraisal , Competition , Public sector , Fiscal stance , Global

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Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

Important progress can be seen in the economic and policy environment in Portugal, but challenges remain. Firm implementation of strategy is essential to meet these challenges. It will be essential that expenditure measures move to the forefront, realizing the planned shift away from revenue-based adjustment. Fiscal adjustment will be needed to ensure long-term sustainability. A credible deficit reduction strategy is essential to raise potential growth. The financial system is sound and well supervised, but the government should continue to monitor risks closely.