The economic adjustment programme for Portugal / European Commission, Directorate-General for Economic and Financial Affairs.

Format:

Book

Government document

Contributor:

European Commission. Directorate-General for Economic and Financial Affairs.

Series:

European economy. Occasional papers ; no. 79.

European economy. Occasional papers, 1725-3195 ; no. 79

Language:

English

Subjects (All):

Structural adjustment (Economic policy)--Portugal.

Structural adjustment (Economic policy).

Economic stabilization--Portugal.

Economic stabilization.

Economic assistance--Portugal.

Economic assistance.

Portugal--Economic policy.

Portugal.

Economic policy.

Portugal--Economic conditions--1974-.

Economic conditions.

Physical Description:

116 pages : color illustrations ; 30 cm.

Place of Publication:

Luxembourg : Publications Office of the European Union, 2011.

Summary:

"This report by European Commission staff provides an overview of the challenges faced by Portugal and the objectives and design of the economic and financial programme. Following a request by Portugal on 7 April 2011, the European Commission, ECB and IMF negotiated an Economic Adjustment Programme, aimed at restoring confidence, enabling the return of the economy to sustainable growth, and safeguarding financial stability in Portugal, the Euro area and the EU. The Programme was agreed by the European Council on 17 May 2011. It covers the period 2011-2014. The programme foresees comprehensive action on three fronts: a credible and balanced fiscal consolidation strategy, efforts to safeguard the financial sector and deep and frontloaded structural reforms to boost potential growth."--Provided by publisher.

Contents:

Weak economic performance and growing imbalances in the years before the crisis

The run-up to the international financial assistance programme

Programme design and objectives: 1. Economic outlook : shrinking domestic demand and rising net exports ; 2. Putting fiscal policy on a sustainable footing ; 3. Stabilising the financial sector ; 4. In-depth structural reforms to support growth and the unwinding of imbalances

Programme financing

Annex 1. Commission services' macroeconomic projections, 2011-15

Annex 2. List of fiscal measures included in the Programme

Annex 3. Indicative financing needs and sources

Annex 4. Programme documents: Letter of Intent ; Portugal

Memorandum Of Economic And Financial Policies ; Memorandum of Understanding on Specific Economic Policy Conditionality ; Portugal - Technical Memorandum Of Understanding (TMU)

Annex 5. Indicative timeline of financial sector and structural measures in the Memorandum of Understanding on specific economic conditionality

Annex 6. Provision of data.

Notes:

"KC-AH-11-079-EN-C"--Cover p. [4].

ISBN:

9789279193316

9279193317

OCLC:

747256282