Free Economic Weekly: Portuguese Seventh review approved, against the background of a weaker economy

The seventh review under of the Portuguese Programme was approved this week. The IMF report points to progress in the structural primary deficit and in the current account, and congratulates the country’s return to international bond markets. However, downside risks to growth are significant, market sentiment’s improvement is still fragile and the social and political consensus around the programme has weakened. Inflation rose to 0.9%yoy in May in Portugal.

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