Carlos da Silva Costa: Fiscal-structural reforms - towards economic growth and the sustainability of public finances

Opening remarks by Mr Carlos da Silva Costa, Governor of the Bank of Portugal, at the Public Finance Workshop on "Fiscal-structural reforms - towards economic growth and the sustainability of public finances", Lisbon, 3 July 2017.

Good morning ladies and gentlemen,

It is a great pleasure to be here today to open this workshop on ‘Fiscal-structural reforms: towards economic growth and the sustainability of public finances’. On behalf of Banco de Portugal and the organising team, a very warm welcome to you all!

As you are aware, this workshop, hosted by Banco de Portugal, was organised in the context of the annual meeting away from Frankfurt of the Working Group on Public Finances of the European System of Central Banks. The workshop gathers here today an outstanding group of fiscal experts coming from central banks, fiscal councils, and other national and international institutions.

Let me take this opportunity to reaffirm in particular the importance of fiscal councils and other independent fiscal watchdogs for the pursuit of sound public finances in our countries.