Portugal: conclusions of the third troika visit

5^th March 2012

On 28th February executives from the International Monetary Fund, the European Commission and the European Central Bank completed their third troika visit to Portugal. They declared that the implementation of policies on which the country had agreed with its creditors are being undertaken as "planned" and that "economic adjustment is ongoing". They welcome the sharp reduction in the public deficit and the implementation of the reform of the financial sector as well as that of the reforms to "stimulate competitiveness, growth and employment", such as the agreement concluded on the reform of the labour market. They finally recommend, in order to continue work and to maintain the deficit under control, to step up ongoing reforms that aim to liberalise the markets of telecommunications and energy.

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