Abstract
IMF Country Report No. 22/204
Copyright Page
IMF Country Report No. 22/204
PORTUGAL
SELECTED ISSUES
June 2022
This Selected Issues paper on Portugal was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed on June 7, 2022.
Copies of this report are available to the public from
International Monetary Fund • Publication Services
PO Box 92780 • Washington, D.C. 20090
Telephone: (202) 623–7430 • Fax: (202) 623–7201
E-mail: publications@imf.org Web: http://www.imf.org
Price: $18.00 per printed copy
International Monetary Fund
Washington, D.C.
© 2022 International Monetary Fund
Title page
PORTUGAL
SELECTED ISSUES
June 7, 2022
Approved By
European Department
Prepared By Kamil Dybczak, Lakshita Jain, La-Bhus Fah Jirasavetakul, Magali Pinat, Boyang Sun, Volodymyr Tulin and Jing Zhou
Contents
HOW COULD THE COVID-19 PANDEMIC AFFECT FIRM PRODUCTIVITY AND THE SPEED OF THE RECOVERY?
A. Firm Demographics and Corporate Financial Health Indicators: Taking Stock of Actual Data
B. Assessing Impact of Liquidity and Solvency Support During the Pandemic
C. Outlook Implications: Distress Indicators and Zombification Risks
D. Risks: Jobs, Economy, Financial System
E. Dynamism and Allocative Efficiency: Experience from the Past Crisis
F. Policy Conclusions
Annex I. Technical Notes
References
DEVELOPMENTS AND PROSPECTS FOR THE TOURISM SECTOR IN PORTUGAL?
A. Pre-Pandemic View
B. The Effects of the Pandemic on Tourism
C. What to Expect after the Pandemic?
D. Policy Conclusions
References
FIGURES
1. Macroeconomic Relevance of the Tourism Sector in Portugal
2. Impact of Covid-19 Pandemic
REDUCING GREENHOUSE GAS EMISSION IN PORTUGAL: THE ROAD AHEAD
A. Portugal and Climate Change
B. Portugal’s GHG Emission
C. Portugal’s Climate Goals and Policies
D. Simulating the Impact of a Carbon Pricing Reform
E. Policy Conclusions
References
FIGURES
1. Impact of Climate Change on Portugal
2. Portugal’s GHG Emissions
3. Carbon Pricing, Energy Taxation, and Subsidies
4. Impact of Carbon Pricing Reform
BOX
1. Environmentally Related Taxes in Portugal
TABLES
1. Natural Disasters in Portugal and Selected Countries
2. Portuguese Strategic Objective for the 2030 Horizon
3. Portuguese Energy and Climate Targets for 2030
4. Carbon Pricing Schemes in Selected European Countries, 2019
5. Portugal: Assumptions and GHG Change Under Baseline and Alternative Scenarios