Author (Corporate) | European Commission: DG Communication |
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Series Title | Statement |
Series Details | STATEMENT/14/39 (03.03.14) |
Publication Date | 03/03/2014 |
Content Type | News, Overview |
Staff teams from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) visited Lisbon during 20-28 February 2014 for the eleventh quarterly review of Portugal’s economic adjustment programme. The mission concluded that the economic recovery is strengthening, the programme’s fiscal targets remain unchanged and that the stabilisation of the financial sector has continued, but low profitability, high corporate debt levels and financial fragmentation are still posing challenges. Also, it concluded that a deepening of the structural reforms agenda is needed to continue the switch to an export-led growth model. The programme remains on track, as also reflected in improved market sentiment. The conclusion of the 11th review could take place in April 2014, subject to the approval of ECOFIN and Eurogroup and of the IMF Executive Board. The joint mission for the next programme review is expected to take place in April 2014. |
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Source Link | Link to Main Source http://europa.eu/rapid/press-release_STATEMENT-14-39_en.htm |
Related Links |
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Subject Categories | Economic and Financial Affairs |
Countries / Regions | Europe, Portugal |