The State’s €1,550 million fund to guarantee up to 100% housing finance for young people is almost fully committed: €1,460 million (94%) has already been allocated to banks, leaving under €90 million available for future distributions. The near-exhaustion of the guarantee reduces headroom for new beneficiaries and shifts pressure onto banks and policy makers to consider whether to broaden, renew or restrict the scheme, with implications for the housing market and public finances.

JP Morgan analysts Aditya Chordia and Matteo Mamprin assign a roughly 50% probability that Moody’s will upgrade Portugal’s sovereign credit rating at its scheduled review in May, putting an upgrade within about four and a half months. The bank’s view reflects an assessment that Portugal’s improving economic fundamentals, fiscal position and lower borrowing costs have materially strengthened its credit profile, reducing downside risks. An upgrade as soon as May would tighten financing spreads, reinforce investor confidence and mark another step in Portugal’s long post‑crisis recovery; market participants should monitor sovereign metrics and rating signals in the run‑up to the review.

Data from the Ministry of Labour, provided to ECO, shows companies have withdrawn more than €120 million from the Labour Compensation Fund (FCT), with the bulk of disbursements used to finance worker training. Employers can still claim roughly €517 million from the fund before the deadline at the end of the year, signalling significant ongoing demand and potential pressure on FCT resources. The pattern of withdrawals highlights how firms are reallocating statutory employer liabilities towards upskilling and may have implications for labour policy and fund sustainability.

Companies are increasingly sensitive to competition issues as competition law enters a phase of expectation and apparent transformation, according to Sara M. Rodrigues, senior associate and co-ordinator of Eversheds Sutherland’s Competition, Trade and Foreign Investment Department. Rodrigues warns that investigations have ongoing consequences and that regulators — and firms — must recognise that processes do not end with the initial investigation conclusion, heightening the need for robust compliance, legal preparedness and attention to reform and enforcement trends.

This analysis examines how demands for transparency from presidential hopefuls in the run-up to the 18 January election have become a tactical weapon between rivals. It explores the tension between legitimate public interest in candidates’ backgrounds and the risk of intrusive exposure of private life, reviews the legal and ethical boundaries, and argues for clearer, proportionate rules and safeguards to balance accountability, privacy and fair campaigning.

The National Institute of Statistics (INE) will reassess in March the classification of Novobanco's dividends, potentially allowing that income to be recognised in last year’s national accounts. If reclassified to count towards the previous budget balance, the adjustment could provide an extra boost to help the Portuguese Government meet or exceed its 0.3% surplus target for 2025. The move would alter headline fiscal metrics, affect timing of revenue recognition in national accounts, and carry implications for public finance reporting, investor perceptions and future treatment of similar banking transactions.

Registrations for early voting in the presidential election on 18 January close this Thursday. Voters registered in the national territory who opt for early voting will cast their ballots on 11 January; registrations can be completed online at www.votoantecipado.pt or by sending a letter to the General Secretariat. The deadline is final, so eligible voters — including citizens abroad who qualify under the rules — should register now to ensure their participation. The short deadline raises potential administrative and turnout implications for campaign planning and electoral logistics.

Miguel Araújo, director-general of Mobinov and a promoter of SCARIA, argues for accelerating industrial convergence between the automotive and aerospace sectors. He says both industries face common structural challenges and share many critical solutions, and highlights the role of initiatives like the third and final SCARIA call to foster startup creation and industrial development in rural areas. The piece calls for intensified collaboration across clusters, supply chains and innovation ecosystems to leverage shared technologies and strengthen regional industrial capacity.

The newly elected leadership of the National Association of Portuguese Municipalities (ANMP) has formally presented its congress resolutions to the Government, raising detailed concerns about the draft law on local finances and the wider decentralisation process. The ANMP is seeking clarifications and safeguards to protect municipal budgets and competences, clearer arrangements for funding decentralisation, and secure access for municipalities to European funds under the next EU programming framework.

An analytical examination of the makeshift coalition shaping the presidential race, focusing on the left’s manoeuvres around Miguel Santos Carrapatoso. The piece explores candidates who don’t fit the dominant blocs, withdrawals that remain tentative, and polling that currently favours Seguro, assessing the strategic, policy and electoral implications of these shifting alignments.