21 November: Commission presents ex post evaluation of Portuguese financial assistance programme

November 22, 2016

A team of economists of the European Commission has carried out an ex post evaluation of the three year EU/IMF financial assistance for Portugal, which ended in May 2014. Lessons are drawn for the future on issues such as the importance of a focus on the most macro-critical weaknesses affecting the functioning of the economy and the sustainability of public finance, of prudent assumptions on financing needs, of prompt and forceful implementation of policy aimed at addressing the weaknesses of a banking sector in a country subject to macro economic adjustment, of taking social considerations into account, and of programme ownership. The report also includes an extensive reaction by the Portuguese authorities.

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