Portuguese Banking Sector Overview, June 2017, APB

Page created: Friday, 24 November 2017 10:39GMT

Press Release:  24 November 2017 - 23 Page(s)

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 the 2018 State Budget, presented last October, the Ministry of Finance revised the forecasts for GDP growth rate up for 2017 and 2018. Economic activity is now expected to grow at 2.6% in 2017 and 2.2% in 2018.
•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.