Portugal : 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. European Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2022/203

IMF Staff Country Reports

Language:

English

Subjects (All):

Interest rates.

Physical Description:

1 online resource (75 pages)

Other Title:

Portugal

Place of Publication:

Washington, D.C. : International Monetary Fund, 2022.

Summary:

This 2022 Article IV Consultation presents that after a deeper pandemic-induced recession than the rest of the euro area in 2020, the Portuguese economy gained ground in 2021, and growth strengthened further in 2022:Q1. Policies need to balance short-term urgencies with a smooth transition to private-led growth, rebuilding fiscal space and advancing reforms for stronger growth and a more resilient economy. The 2022 budget remains suitably accommodative, excluding the appropriate unwinding of coronavirus disease 2019 measures. Broad-based measures in response to the energy price shock must be kept temporary and preferably replaced with more targeted measures to mitigate the impact on vulnerable households. Fiscal policy needs to be flexible for further support under severe adverse scenarios or more savings under fiscal over performance. A timely implementation of the National Recovery and Resilience Plan through efficient and transparent planning and budgeting, organization and oversight of the investments and reforms, coupled with reforms to reduce labor market duality and strengthen insolvency regimes would limit scarring, raise living standards, and build a more dynamic economy.

Contents:

Front Matter

Portugal: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Portugal

Portugal: Staff Report for the 2022 Article IV Consultation-Informational Annex

Statement by Domenico Fanizza, Executive Director for Portugal, and Ana Rita Mateus, Advisor to the Executive Director June 23, 2022.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9798400215407