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Global Macro-Market Outlook

Portugal: 2011 Outlook

By Katharina Jungen
Dec 7, 2010 | Last Updated
Global Economics Outlook, GDP and CPI data for Portugal

  • The Portuguese economy will fall back into recession in 2011 as aggressive austerity measures trigger a sharp contraction in domestic demand and impetus from the external sector provides only a small contribution to economic growth.
  • While the Portuguese banking sector has so far avoided profitability and solvency problems, the deteriorating growth outlook and rising expected loan losses will exert pressure on banks’ capital cushions.
  • The Portuguese economy is the next likely candidate to tap the European Financial Stability Fund (EFSF) if access to funding dries up further. However,[...]

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