| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 271 final (13.5.15) |
| Publication Date | 13/05/2015 |
| Content Type | Policy-making |
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On 8 July 2014, the Council adopted a recommendation on Portugal’s National Reform Programme for 2014 and delivered its opinion on Portugal’s updated Stability Programme for 2014. On 28 November 2014, in line with Regulation (EU) No 473/2013, the Commission presented its opinion on Portugal’s draft budgetary plan for 2015. On 28 November 2014, the Commission adopted the Annual Growth Survey, marking the start of the 2015 European Semester of economic policy coordination. On the same day, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Portugal as one of the Member States for which an in-depth review would be carried out. On 26 February 2015, the Commission published its 2015 country report for Portugal. This assessed Portugal’s progress in addressing the country-specific recommendations adopted on 8 July 2014. The country report also includes the results of the in-depth review. The Commission’s analysis leads it to conclude that Portugal is experiencing excessive macroeconomic imbalances which require decisive policy action and specific monitoring. It is true that considerable progress has been achieved through the adjustment programme, both as regards economic adjustment and policies. Despite this, significant risks remain, linked to the high levels of internal and external indebtedness across various sectors, and these deserve close attention. There are also strong deleveraging pressures in a context of low growth, low inflation and high unemployment. On 28 April 2015, Portugal submitted its 2015 National Reform Programme and its 2015 Stability Programme. To take account of their interlinkages, the two programmes have been assessed at the same time. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:271:FIN |
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| Countries / Regions | Portugal |
