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2019 OECD Economic Surveys: Portugal 2019

image of OECD Economic Surveys: Portugal 2019

Portugal’s economic recovery is now well established, with GDP back to its pre-crisis level. However, legacies of the recent crisis remain. A high public debt burden and ongoing financial sector vulnerabilities make the economy less resilient. The country is also facing a rapidly ageing population. In this context, there should be a continued focus on getting unemployed or marginalised workers back into jobs and promoting productivity growth. The latter will further boost the external competitiveness of the economy. Existing strict regulations in some sectors including professional services and transport harm productivity prospects, as do those that hold back competition in the ports. However, the institutions implementing regulations also matter. Improving judicial efficiency is particularly important in this regard. Recent reforms have lowered the time to resolve a court case, but it remains long. The information system that registers court proceedings should thus be better utilised and the courts should be granted stronger autonomy in managing their resources.

SPECIAL FEATURES: FURTHER RAISING EXPORT PERFORMANCE; ENHANCING JUDICIAL EFFICIENCY

 

 

 

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Basic Statistics of Portugal, 2017

(Numbers in parenthesis refer to the OECD average)*

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Portugal were reviewed by the Committee on 17 December 2018. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 1 February 2019.The Secretariat’s draft report was prepared for the Committee by Ben Westmore, Yosuke Jin,and Paula Adamczyk under the supervision of Pierre Beynet. The survey also benefitted from consultancy contributions by Sofia Amaral-Garcia. Editorial support was provided by Poeli Bojorquez and Sylvie Ricordeau. The previous Survey of Portugal was issued in February 2017.Information about the latest as well as previous Surveys and more details about how Surveys are prepared is available at www.oecd.org/eco/surveys.

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