The government led by Luís Montenegro claims not to raise taxes, yet celebrates a 0.7% GDP surplus. This analysis argues that the surplus stems from higher tax collection and failure to execute planned spending, rather than structural reform or productivity. With the tax burden rising to 35.4% of GDP, the state continues to collect more while failing to deliver essential services like healthcare, education, and justice. The author contends that current growth is fragile and driven by temporary factors, warning that without significant state reform and tax reduction, Portugal faces continued economic decline.