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The report assesses compliance with the terms and conditions set out in the MoU, as updated following the 7th Review of the Portuguese Economic Adjustment Programme. The assessment is based on the findings of a troika staff mission to Lisbon between 16 September and 3 October 2013.
The mission concluded that the programme implementation is broadly on track. The end-2013 fiscal deficit target of 5.5 per cent of GDP is within reach. Several economic indicators point to an economic recovery and the authorities are committed to implement the required fiscal and structural reforms to recuperate sustainable growth.
The Programme's financing envelope remains sufficient. Approval of the conclusions of this review will allow the disbursement of €5.6 billion (€3.7 billion by the EU and €1.9 billion by the IMF), bringing the total amount disbursed to Portugal to €72 billion representing more than 90 per cent of total available financial assistance.
See also EuroparlTV: Rebooting Portugal's lagging job market