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17 May 2014

The road to growth: A medium-term strategy for Portugal

The Portuguese government has published a report in which it presents its ongoing reform programme, new initiatives towards sustainable growth and commitments towards sound public accounts.

Portugal exited the EU/IMF adjustment programme on 17 May 2014. During these last three years, much was achieved through the effort and determination of the Portuguese people. But there is still work to be done. Under the commitments of the single currency, Portugal has to continue a process of budgetary consolidation and reduce its public debt. And though Portugal is back to growth, it is necessary to maintain the current strong reform momentum in order to sustain the recovery and boost competitiveness.

In this document the Government lays out its main commitments and the reform strategy going forward. It complements the recently presented Fiscal Strategy Document, the roadmap for the reform of the public sector (A Better State), and the government platform.

The document is organised in the following manner: the first section discusses what was done in the last three years to correct imbalances in the Portuguese economy, and thus build a stronger foundation for growth.

Sections two, three and four outline the reform agenda for the coming years, which will be anchored in three policy areas: 

  1. reforms to boost competitiveness;
  2. reforms to promote employment creation and human capital;
  3. reforms to streamline the public sector.

The fifth section will recap the main policy actions envisaged for the coming months and the sixth and final section will summarise the ongoing fiscal commitments.

Full report

© Portuguese Republic Government

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