This report presents the findings of the sixth post-programme surveillance (PPS) mission of
Commission staff, in liaison with ECB staff, which took place in Lisbon between 26 June and 4 July
2017. Since the conclusion of the fifth post-programme surveillance mission in December 2016, growth
has further accelerated. The short-term economic and financial situation of Portugal has improved and
important progress has been made in addressing near-term risks. Overall, Portugal’s economic
adjustment building on the basis of the macroeconomic adjustment programme has been commendable.
Going forward, the challenge is to maintain the momentum. In this regard, further ambitious growthenhancing
reforms and sustained fiscal consolidation are essential to improve the economy’s resilience to
shocks and the medium-term growth prospects.