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Portugal: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1995: Issue 124
Language:
English
Publication Date:
19 Dec 1995
DOI:
https://doi.org/10.5089/9781451832082.002
ISBN:
9781451832082
ISSN:
1934-7685
Pages:
170
Keywords:
ISCR; CR; U.S. dollar; exchange rate; Portuguese escudo; broad money; first quarter; terms of trade; foreign exchange; Public enterprises; Public sector; Europe; Global
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This paper reviews economic developments in Portugal during 1990–95. Economic activity rebounded weakly in 1994, growing by 1 percent after a fall of 1.2 percent in 1993. The recession in 1993 was deeper, and the recovery in 1994 weaker than that experienced by the European Union as a whole. Thus, real convergence with Europe was interrupted: although Portuguese GDP per capita increased from 51.4 percent of the European Union average in 1985 to 64.8 percent in 1992, it fell back to 64.4 percent by 1994.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund