LISBON (Reuters) – New signs of recovery have emerged in Portugal since the country’s creditors last reviewed its economy, the lenders to Lisbon’s bailout said on Monday.
“Further signs of recovery have emerged since the last review,” the European Commission, ECB and IMF said in a joint statement after the tenth review of Portugal’s economy.
“Growth is broadly in line with projections, while unemployment has fallen by more than expected.”
The statement coincided with the announcement that the country has passed the latest review, which ended on Monday.
The three said the “government has Reaffirmed its commitment” that it will identify alternative compensatory measures if the country’s constitutional court shoots down any measures that have been challenged by opposition politicians.
“Such (alternative) measures, however, could heighten risks to growth and employment and reduce the prospects for a sustained return to financial markets,” the statement said.
(Reporting By Axel Bugge)
