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OECD Economic Surveys, Portugal 2023, OECD

Creator
Author
Summary
The Portuguese economy has rebounded strongly from the COVID-19 crisis. Though high inflation and weak global economic conditions have slowed growth in 2022, renewed fiscal support helped to cushion the impact. Public debt relative to GDP has declined below its 2019 level, but rapid population ageing and strong investment needs are increasing fiscal pressures. Potential growth and productivity gains have declined and skill shortages have emerged. Implementing the ambitious Recovery and Resilience Plan and ensuring fiscal sustainability through more efficient spending and a strengthened fiscal framework are key to a sustained recovery. Streamlining complex administrative processes as part of the public sector's digitalisation efforts and reviewing regulations in professional services and retail trade can improve productivity. In addition, investment in the green transition should continue to reduce greenhouse gas emissions and strengthen climate resilience, in line with Portugal's goal of carbon neutrality. At the same time, while life expectancy is high, the health sector is suffering from staff shortages, underinvestment and long waiting lists. Moving towards a more integrated system of primary, community and hospital care could improve the quality of care and value for money. Reforming primary care would also help to improve access for low-income households and limit avoidable hospitalisations. SPECIAL FEATURE: IMPROVING HEALTH OUTCOMES
Table Of Contents
Intro -- Foreword -- Basic Statistics of Portugal, 2022 -- Executive summary -- The strong recovery has decelerated -- Efficient public spending is key for fiscal sustainability and growth -- A sustained recovery will require tackling long-standing challenges -- Reforms are needed to strengthen the health system -- 1 Key policy insights -- COVID-19 and rising costs of living are threatening growth and well-being -- High uncertainties have dented the pace of the recovery -- Growth has slowed amid tighter financial conditions and high uncertainty -- The balance of risks is to the downside -- Financial risks will require close monitoring -- Strengthening macroeconomic fundamentals for a sustainable recovery -- Ensuring fiscal sustainability -- Moving towards a performance-oriented and transparent budget framework -- Strengthening the fiscal framework -- Improving the structure of social expenditures -- Streamlining the tax system -- Policy reforms for stronger, more inclusive and greener growth -- Boosting productivity growth -- Helping small and innovative firms to grow -- Stimulating technology diffusion and innovation -- Enhancing employment and job quality -- Strengthening skills -- Improving labour market outcomes -- Supporting the transition towards a green and sustainable economy -- Reducing further greenhouse gas emissions and adapting to climate change -- Improving waste and water management -- Continuing efforts to reduce corruption -- References -- 2 Improving health outcomes -- Portugal's health system has performed well, but is facing challenges -- An overview of the Portuguese health system -- Strengthening governance and budgeting -- Improving the provision of healthcare -- Strengthening primary care -- Optimising hospital management and services -- Ensuring more integrated care
Language
eng
Literary Form
non fiction
Edition
1st ed.
Physical Description
1 online resource (131 pages)
Specific Material Designation
remote
Form Of Item
online
Isbn
9789264405691

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