Fitch considers upgrade to Portugal’s rating after election
Fitch will consider a rating upgrade to Portugal after October’s general election
Centeno vs ECB over Financial Supervision plan in Portugal
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.
Portuguese government bonds 10 years below 1%
Portuguese Government bonds fell to a historical minimum yesterday.
Government announces “Affordable Housing” program for middle
"Affordable Housing" kicks off on the 1st July and will make renting 20% cheaper than the reference price.
OECD’s eight warnings for Portugal
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
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
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
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
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%
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%
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%.
Angolan economy to grow 0.4% in 2019, 3.2% in 2020, 2021
The Angolan ministry of finance estimates the country's economy will grow by 0.4% this year, and by 3.2% in 2020 and 2021.
Real estate investment in Lisbon breaks new record in 2018
Investment in real estate in Lisbon hit a new record, reaching €5.92 billion in 2018, according to the Confidential Real Estate (Ci).
Public debt rises by 1.2 billion in February
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
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
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
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
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
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
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
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%
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%.
Tax burden hits new record high in 2018, at 35.4% of GDP
The tax burden went up to 35.4% of GDP in 2018, after reaching 34.4% of GDP in the previous year.