-
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.
-
Economic conditions in Portugal have improved markedly over the past few years. GDP is now back to its pre-crisis level and the unemployment rate has declined 10 percentage points since 2013 to below 7%, one of the largest reductions in any OECD country over the past decade. Nevertheless, legacies of the crisis remain, with the poverty rate of the working age population still elevated and perceptions of subjective wellbeing below pre-crisis levels.
-
The Portuguese economy continues to recover, with past structural reforms and more favourable global economic conditions contributing to the upswing. The economy has largely been sustained by strong export performance since 2010, but domestic demand is now also growing solidly. After receding in the five years following the crisis, employment has picked up and the unemployment rate has fallen from 17% to below 7%. Over the same period, the economy has notably increased its reliance on some renewable energy sources, such as wind power.
-
-