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%.

Government expects to pay tax refunds in 11 days

Lusa,

The submission of the tax annual returns begins on 1 April, and this year it is the first time it will last for three months, ending on 30 June.

Debt agency rolls over €619m in debt maturing in 2021

Lusa,

The Portuguese debt management agency bought back €619 million in treasury bonds, and issued the same amount in bonds maturing in 2030.

Provisional 2018 budget deficit 0.5% of GDP

Lusa,

Public debt stood at 0.5% last year, below the government's previous estimates, according to the National Statistics Institute.

EDP Ventures’ portfolio with new AI company from Israel

ECO News,

EDP Ventures, the venture capital subsidiary of the Portuguese energy giant, EDP, decided to invest in Presenso, an Israeli AI company focused on predictive maintenance of industrial assets.

“Too many jobs offer the minimum wage in Portugal”, IMF

ECO News,

The vice-director of the IMF praised the decrease in unemployment but regretted that "so many jobs" offer the minimum wage to employees. A bet in innovation and exports can revert this, he noted.