[PDF] Inflation In Portugal eBook

Author : Mr. Kamil Dybczak
Publisher : International Monetary Fund
Page : 20 pages
File Size : 44,73 MB
Release : 2023-07-10
Category : Business & Economics
ISBN :

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This paper examines recent trends, main drivers, and risks to near-term inflation in Portugal. Before the energy crisis, inflation in Portugal was low, often below the Euro Area average, but it accelerated quickly in the second half of 2022. Our estimated Phillips curve regression suggests that, similarly to other Euro Area countries, inflation in Portugal has been largely driven by food and external prices pressures. Inflation is projected to gradually decrease, reflecting receding energy prices and anchored inflation expectations. However, uncertainty remains high and inflation could remain elevated, especially if the inflationary process became backward looking or wage-inflation spirals are induced by pressures from energy prices.

Author : Mr.Dmitry Gershenson
Publisher : International Monetary Fund
Page : 123 pages
File Size : 35,23 MB
Release : 2016-03-25
Category : Business & Economics
ISBN : 147554832X

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In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.

Author : Alex Pienkowski
Publisher : International Monetary Fund
Page : 20 pages
File Size : 44,97 MB
Release : 2019-12-20
Category : Business & Economics
ISBN : 1513524860

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This paper outlines a simple three-country macroeconomic model designed to focus on the transmission of external shocks to Portugal. Building on the framework developed by Berg et al (2006), this model differentiates between shocks originating from both inside and outside the euro area, as well as domestic shocks, each of which have different implications for Portugal. This framework is also used to consider the dynamics of the Portuguese economy over recent decades. The model, which is designed to guide forecasts and undertake simulations, can easily be modified for use in other small euro area countries.

Author : International Monetary
Publisher : International Monetary Fund
Page : 75 pages
File Size : 21,29 MB
Release : 2022-06-30
Category : Business & Economics
ISBN :

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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. Employment reached pre-pandemic levels in 2021:H2 and GDP in 2022:Q1. Nonetheless output is expected to remain below pre-pandemic trend over the medium term. While growth in 2022:Q1 was supported by a strong bounce back in tourism and domestic demand, the recovery for the rest of the year is expected to be hampered by the war in Ukraine despite limited direct linkages with Russia and Ukraine, due to higher commodity prices, supply-side disruptions, and weaker confidence and external demand. The outlook is clouded by uncertainty relating to the war, new virus waves, and the ultimate effect of the pandemic on corporate, bank, and public sector balance sheets. While declining and with improved composition, public debt would remain high.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 51 pages
File Size : 14,87 MB
Release : 2023-06-22
Category : Business & Economics
ISBN :

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Portugal: Selected Issues