European Parliament Library

Portugal :, Third Review Under the Extended Arrangement and Request for Waiver of Applicability of End-March Performance Criteria: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Portugal

This paper presents Portugal’s third review under the extended arrangement and request for waiver of applicability of end-March performance criteria. The government has initiated labor market reforms, privatizations, telecom sector liberalization, and improved competition framework. Competitiveness indicators are showing some signs of improvement with wages declining in some sectors and a sizable improvement in the current account deficit in 2011. Although the banking system continues to be heavily reliant on euro system funding, the required adjustment in banks’ balance sheets has started
Table Of Contents
Cover; Contents; I. Background; II. Recent Developments and Program Performance; Boxes; 1. Portugal's Competitiveness Gap; 2. Recent Developments in Private Sector Funding; 3. Why are Portugal's Spreads so High?; III. Outlook and Risks; IV. Policy Discussions; A. Fiscal Consolidation; 4. Challenges Posed by SOEs; B. Safeguarding Financial Stability; C. Enhancing Competitiveness and Growth; V. Financing; VI. Staff Appraisal; Figures; 1. High Frequency Activity Indicators; 2. Labor Costs and Competitiveness; 3. Financing of the Economy, 2008-11; 4. Credit Constraints; 5. Financial Indicators
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (132 p.)
Specific Material Designation
Form Of Item

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