Portuguese Banking Sector Overview, Dezember 2016, APB

Page created: Monday, 25 September 2017 16:22GMT | Updated: Monday, 25 September 2017 16:27GMT

Press Release:  25 September 2017 - Page(s)
APB   Banking

The Economic and Financial Adjustment
Programme (EFAP) ended in May 2014.

• Total funding for the Portuguese State
amounted to EUR 78 bn, EUR 12 bn of
which went to the banking sector (EUR
5.6 bn used during the programme).

• After three years of contraction, the Portuguese
economy started to show positive signs of
growth from Q3 2013 onwards.

•In June, Banco de Portugal revised the forecasts
for GDP growth rate up for 2017-2019.
Economic activity is now expected to grow at
2.5% in 2017, 2% in 2018 and 1.8% in 2019.

•In 2019 Portuguese GDP is expected to be
higher than that before the international crisis.

• Portugal exited the Excessive Deficit Procedure
(EDP) in May 2017.