Centeno vs ECB over Financial Supervision plan in Portugal

ECO News,

The European Central Bank fears that new Centeno's plan will compromise Bank of Portugal's political independence. Minister has denied such intentions and will move forward with his plans.

OECD’s eight warnings for Portugal

ECO News,

These are the top warning and conclusions that you should follow closely on Portugal over this and the next year.

Brexit helpline received 192 calls on the first day

Lusa,

A dedicated telephone line set up by Portugal’s consular services in the UK to help Portuguese nationals living in that country has started functioning. It received 192 calls on the first day.

EDP’s electricity market share falling for 13 months

ECO News,

EDP has maintained its top position holding 81% of the clientele in the free electricity market, but in January its market share dropped again, a trend that started being observed in January 2018.

NATO remains ‘anchor of collective security’, says Cravinho

Lusa,

The Portuguese minister of defence, João Gomes Cravinho, said in a written statement to Lusa news agency, that NATO is still the anchor for collective security 70 years after its foundation.

One third of country’s EU funds for 2014-2020 already used

Lusa,

The minister for planning announced this Wednesday that €26bn of the EU funds were already given by the Commission, while €9bn (34%) have already been used in the projects chosen.

Government reviews unemployment rate, up to 6.6%

ECO News,

In their update of the Stability Programme, the government reviewed the country's economic performance, expecting less economic growth and a higher unemployment rate, at 6.6%, for 2019.

Government’s GDP estimate down to 1.9%, deficit at 0.2%

ECO News,

The government downwardly revised the GDP growth for 2019, from 2.2% to 1.9%. The new estimates from the Stability Programme show the deficit target will be met, at 0.2%.

Public debt rises by 1.2 billion in February

Lusa,

The Portuguese public debt reached €249.3 billion in February, having increased by €1.2 billion in comparison to the previous month of January, the BdP announced this Monday.

Public sector’s deficit in 2018 without one-offs was nil

Lusa,

The public sector's deficit would be nill in 2018, if we exclude one-offs (the effect of temporary and non-recurring measures such as Novo Banco's capital injection).

Unemployment rate down to 6.3%. Fewer people are employed

ECO News,

The unemployment rate fell to 6.3% in February, the lowest rate since August 2002. The decrease, however, was motivated by a drop in the working population. The number of employed people went down.

Castro Marim’s rents up 28.4%, above Lisbon’s increase rate

ECO News,

Rents are increasing in Lisbon, rent prices went up by 27% in certain neighbourhoods. However, the place which showed the highest increase is not located in the country's capital.

Parliament questions former BdP governor over CGD’s audit

Lusa,

Portugal’s former central bank governor Vítor Constâncio is to be questioned by MPs on Tuesday under the second parliamentary inquiry commission into the state-owned bank Caixa Geral de Depósitos.

State collected €929M more in taxes until February

Lusa,

The government collected €929m more in taxes in the first two months of this year than in 2018, according to the overview of the budgetary execution, published this Wednesday.

Consumer confidence down; economic climate slightly better

Lusa,

The consumer confidence indicator fell in March for the fifth consecutive month and the economic climate indicator went up slightly according to the National Statistics Institute.

BdP cuts 2019 GDP growth forecast to 1.7% as exports slow

Lusa,

The BdP on Thursday downgraded its projections for the country’s economic growth this year, saying that it sees GDP getting to 1.7% while maintaining projections for 2020 and 2021 (1.6%).

Euro slowdown might induce Portuguese GDP to drop to 1%

ECO News,

The Portuguese central bank (BdP) has downwardly revised the economic growth in the country, worried that the slowdown in the eurozone will make GDP grow by 1.6% or only 1%.