This paper discusses key findings of the Second Post-Program Monitoring Discussions with Portugal. Portugal's economic recovery remains on track in 2015, boosted by rising exports and consumption, together with a recent upturn in investment. Real GDP expanded by 1.5 percent (year-over-year) in...

The growth rate of lending to individuals increased significantly in 2021 contributing to the expansion of consumer demand. Certain concern is caused by the growth of lending that is largely due to loans to high-debt borrowers. In this regard, the Bank of Russia decided to return macroprudential...