Joaquim Miranda Sarmento
Photo: Agência Lusa, CC BY 3.0 (Wikimedia Commons, cropped)
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- 4d ago
Portugal completes purchase of 5.3% of REN from Fidelidade for €138.8 million
Parpública paid 138.791 million euros for the stake after the Court of Auditors cleared the deal on 29 October. The state now holds about 19% of the grid operator, behind only China's State Grid.
- 6d ago
Portugal's 2027 state budget moves to committee stage as the PS abstains
The PS has said it will abstain, which guarantees the government's 2027 State Budget proposal passes to the specialty stage after the generality vote. The final vote is scheduled for 24 November.
- Oct 26
Portugal's fiscal council finds 2027 budget plausible but projects a 0.1% deficit
The CFP's report puts the 2026 balance at a 0.1% surplus and the 2027 balance at a 0.1% deficit, against government forecasts of a 0.0% balance and a 0.1% surplus.
- Oct 24
PS to let Portugal's 2027 state budget pass, Carneiro cites cost-of-living crisis
Socialist leader José Luís Carneiro defended letting the OE2027 pass, arguing a political crisis would deepen household hardship. Finance minister Joaquim Miranda Sarmento, in a roughly six-hour parliamentary hearing, urged restraint while the PS promised family support measures.
- Oct 13
Portugal cuts November IRS withholding by 50% after interim tax cut passes
The Finance Ministry says withholding on November pay, pensions and the Christmas bonus falls by half. The move follows a parliamentary vote on Friday, 9 October 2026 that cuts IRS rates for 2026 income.
- Oct 13
IMF raises Portugal's 2026 growth forecast to 2.1%, still below government's 2.3%
The IMF now expects Portugal's economy to grow 2.1% in 2026 and 1.9% in 2027, both upgrades from its June estimates. The PCP confirmed it will vote against the 2027 State Budget, citing a public investment cut of more than 30%.
- Oct 8
Portugal presents 2027 budget targeting 2.1% growth and 0.1% surplus
Finance Minister Joaquim Miranda Sarmento delivered the 2027 State Budget proposal to parliament on 8 October 2026, setting up general debates starting 27 October with passage backed by Socialist Party abstention.
- Oct 6
Portuguese public sector unions demand 6.5% wage rise in opening talks
FESAP met with Portuguese government officials on Tuesday to demand a 6.5% minimum salary raise and a 1,050 euro baseline for public workers in 2027.
- Sep 30
Portugal's Socialists to Abstain on 2027 Budget Following Government Pledges on Pensions and Constitution
Socialist Party leader José Luís Carneiro announced he will recommend abstaining on the 2027 State Budget after Prime Minister Luís Montenegro committed to pension protections and inclusive constitutional reform talks.
- Sep 20
Portugal finance minister warns fuel and food VAT cuts would cause €2B deficit
Joaquim Miranda Sarmento said proposals by PS and Chega to reduce fuel and food taxes would drain €2 billion annually, threatening a return to a budget deficit in 2027.
- Sep 9
Portugal rejects censure motion as Montenegro presents €800 million tax cut and pension bonus
Prime Minister Luís Montenegro announced a €400 million IRS reduction and €400 million in extraordinary pension bonuses as parliament voted down a censure motion tabled by Chega.
- Jul 1
Portugal sets red lines for Sines refinery deal and probes slow fuel price decline
Environment Minister Maria da Graça Carvalho laid out non-negotiable conditions for the Galp–Moeve merger and ordered an investigation into why pump prices have not followed the sharp drop in crude.
- Jun 21
Montenegro dismisses crisis talk as PSD congress rallies around leader after labour reform defeat
Portugal's prime minister and PSD leader Luís Montenegro ruled out a snap election on Saturday, telling his party's congress that it would be "absurd" to talk of a political crisis after the opposition PS and Chega combined to block the government’s labour law overhaul.
