Staff statement following the eleventh post-programme surveillance mission to Portugal
date: 27/02/2020
The mission was coordinated with an International Monetary Fund staff visit. Staff from the European Stability Mechanism also participated in the mission in the context of its Early Warning System. The mission focused on macroeconomic, fiscal and financial developments. The mission also reviewed the progress in implementing fiscal-structural measures that are key to containing expenditure growth while creating room for growth-friendly spending. Financial sector discussions covered remaining crisis legacies, including strategies to further reduce non-performing loans, as well as profitability prospects. The post-programme surveillance report reflecting the detailed findings of this mission is expected to be published in April 2020.