Author(s):
Afonso, António 
Date: 2013
Persistent ID: http://hdl.handle.net/10400.5/5164
Origin: Repositório da UTL
Subject(s): Portugal; Public finances; Fiscal imbalances
Document details
Anatomy of a fiscal débacle: the case of Portugal
Description
After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the procyclality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to a fiscal débacle and to an international financial rescue in 2011. We briefly review here those developments.
After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the procyclality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to a fiscal débacle and to an international financial rescue in 2011. We briefly review here those developments.
Document Type
Other
Language English
Language English
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