Portuguese public debt gets to 124.8% of GDP in 2017
Portugal has the third highest government debt to GDP ratio in the EU, at 124.8%. 15 Member States have government debt ratios higher than 60% of GDP, with the highest being Greece, Italy and Portugal
Portugal has the second highest deficit in the Eurozone
The government deficit decreased to 1.0% both in the EA19 and the EU28 in 2017. Portugal presented the second largest deficit due to CGD's capitalization, and the third largest debt pile at EU level.
FT compares Italy’s economy to “Portugal three years ago”
Three years ago, Portugal had a fragile banking sector, and a high public debt, trying to overturn austerity. Now, it's Italy who is in "a collision course with the EU over budget deficit targets".
Foreigners bought 17 thousand houses in Portugal last year
Over a thousand of those houses cost more than half a million euros. Non-residents were responsible for 11.5% of the total of last year's real estate sales. French lead, followed by the Brits.
CTT hires US company specialized in postal service crises
Portuguese postal services, CTT, is considering an investment of €40m in the modernization of their company. A.T. Kearney Consulting is in charge of planning the optimizations.
Country to receive around 150 refugees from Egyptian camps
In November Portugal is due to receive around 150 refugees currently living in Egypt, which will be the first portion of a group of over 1,000 people expected to take up residence in Portugal by 2019.
PM calls for EU migration system ‘to avoid past fractures’
Portugal’s prime minister, António Costa, on Thursday called for the creation of a common system for migration in the European Union that can avoid a rerun of the "harmful effects" of past fractures.
Plastic bottles, bags and plates banned in state sector
The Portuguese Government decided to ban the use of plastic bottles, bags, and plates, as to force departments to find alternative materials. Paper and other consumable items should be reduced by 25%
Country’s poverty rate stands at 23.3%, above EU average
In 2017, 23.3% of the Portuguese population was at risk of social exclusion or poverty, while 18.3% of the people were at risk of monetary poverty (after social transfers), above the 16.9% EU average.
Foreign Affairs Minister is “working on Brexit agreement”
Foreign Affairs Minister stated last Monday that the country is working on ways to mitigate the effects of a most-feared 'no-deal' Brexit. Prime Minister, Costa, defends bilateral agreements.
Angolan GDP shrinks in Q2, a year-on-year fall of 7.4%
Angola's economy presented a year-on-year fall of 7.4% in GDP growth, which has been going down for three quarters in a row. The country's high exposure to the oil industry is promoting this fall.
Lone Star is ‘satisfied’ with investment in Novo Banco
One year after signing the deal with the BdP and the Resolution Fund, Lone Star is 'satisfied' with the business decision. The North-Americans paid €750m to get a 75% stake of the bank.
Lisbon Metro plans strike during the Web Summit event
The workers of the Lisbon Metro are planning a strike the morning of the 6th of November, the day the Web Summit starts.
Golden visa down 19% in September, 5% on year
Golden visa permits for major investors fell by 19% in September, in comparison to August, according to SEF. So far this year, almost €593m has come in under the programme.
Government awaits Parliament’s authorization on €10 bn limit
State Budget 2019 predicts a near nil deficit, but the Government has asked the Parliament for authorization to reach a maximum of €10bn of indebtedness for the next year.
Brussels’ go-ahead on CGD’s dividends is still missing
For the first time since 2010, the State expects to get a reimbursement from the public bank. The Commission and ECB's go-ahead is missing, and their endorsement of the transaction is binding.
Brussels wants 0.6% deficit reduction, Centeno delivers 0.3%
The State Budget 2019, is predicting a deficit decrease of 0.3% of GDP, which is half of what Brussels expected. This is the main indicator for analysing budget consolidation efforts at EU level.
Rio claims Galamba is “a partisan choice for energy affairs”
The leader of the social democrats, Rui Rio, has reacted to the appointment, claiming that "the parliamentarian [Galamba] has no great experience in terms of energy issues".
Hydroelectric dams produce 78% of Angola’s electricity
At the Parliament this Monday, the Angolan president noted the increase in electricity production capacity meant a daily saving of €258,800 per day. 36,000 Angola households got access to the grid.
OE2019: the weight of the main measures on state revenue
How much does the end of the PEC programme cost? What about the relief in electricity bills? And how much is the state planning to spend on increasing pensions?
OE2019: Strengthening of economic growth and EU convergence
The economic growth are seen in a government deficit of 0.7% of GDP, a growth of 2.2% of GDP, with increases in investment (7%) and exports (4.6%). Labour market conditions continue improving in 2019.
State Budget 2019 was delivered to the Parliament
The State Budget for 2019 has finally arrived at the Parliament. The press conference was re-scheduled for tomorrow.
OE2019 can reduce electricity bills by “more than 10%”
The Government believes that the State Budget for 2019 can bring a reduction in electricity bills of more than 10%. The decrease was negotiated with BE, leftists, and PCP, the communist party.
ERSE proposes increase of 0.1% in electricity bill
The Energy Services Regulatory Authority (ERSE) proposed an increase of 0.1% in electricity prices for the regulated energy market. This represents an increase of five cents on average in each bill.