Friday, 6 November 2026

Parties have submitted a record 2,502 amendment proposals to the 2027 State Budget (Orçamento do Estado), with housing policy remaining the main point of contention. Finance Minister Joaquim Miranda Sarmento warned parliament that budgetary room is limited to preserve a projected 0.1% surplus, though the government signaled readiness to transfer 477 state-owned properties to municipalities for affordable housing. Cross-party talks remain deadlocked after Socialist Party (Partido Socialista or PS) leader José Luís Carneiro accused the government of intransigence over tenancy rules (lei do arrendamento), while Chega leader André Ventura presented 50 housing proposals that include income tax deductions on mortgage interest.

Portuguese authorities have located two young children in Portugal connected to an alleged child trafficking ring operated from Spain. Their mother was arrested by Spanish police in Badajoz on suspicion of selling her children, with investigators examining whether up to four minors were sold. Six siblings aged one to 11 are currently in institutional care (casas de acolhimento) while cross-border investigations continue.

Minister of Agriculture and Fisheries (Ministro da Agricultura e Pescas) José Manuel Fernandes announced that the 2027 agricultural budget will be the largest on record, growing 10% excluding Recovery and Resilience Plan (Plano de Recuperação e Resiliência or PRR) funds. Defending agricultural subsidies in parliament as an indirect benefit for consumers to keep food affordable, Fernandes also confirmed that 380 applications were received for a €12 million relief fund for Douro winegrowers who could not sell their grapes.

Power utility EDP (Energias de Portugal) reported a 22% increase in recurring net profit to €1.191 billion for the first nine months of the year. The company told the Portuguese Securities Market Commission (Comissão do Mercado de Valores Mobiliários or CMVM) that results were driven by renewable energy output, asset rotation transactions, and regulated Iberian electricity networks. Total reported net profit reached €1.194 billion, up 25% compared to the same period last year.

Minister of Internal Administration (Ministro da Administração Interna) Luís Neves announced that Portugal will digitise traffic violation notices starting in January. The government also plans to revive the National Republican Guard (Guarda Nacional Republicana or GNR) Traffic Brigade (Brigada de Trânsito) in early 2027 and revise the Highway Code (Código da Estrada). Neves told parliament during budget hearings that the measures aim to accelerate fine processing and increase road enforcement.

Minister of National Defence Nuno Melo downplayed a cyberattack targeting his personal mobile phone, telling parliament that no public official is completely immune to electronic intrusions. Speaking during debates on the State Budget (Orçamento do Estado), Melo explained he disclosed the incident for educational reasons to outline security risks when software updates are neglected on smartphones. Melo faced questioning on the breach from Chega deputy Nuno Simões de Melo during the committee hearing.

President of the Republic António José Seguro met with Ukrainian President Volodymyr Zelensky in Madrid to discuss building a joint drone production factory in Portugal. Speaking after their meeting on the sidelines of the Ibero-American Summit (Cimeira Ibero-Americana), Seguro stated that the proposal will now be evaluated by the Portuguese government. Foreign Minister Paulo Rangel also attended the bilateral talks, which addressed broader military cooperation and support for Ukraine's energy sector.

State-owned bank Caixa Geral de Depósitos (CGD) posted a record profit of €1.434 billion for the first nine months of the year, a 2.5% increase compared to the same period in 2025. Chief Executive Officer Paulo Macedo reported that overall business volume grew by 7%, bolstered by more than €5.3 billion in new lending and €2.2 billion in customer deposits. The bank also noted that it may revise upward the dividends it pays to the Portuguese state.

The Web Summit tech conference has generated €2.5 billion for the Portuguese economy over the past decade, according to an economic impact study by consultancy EY. Presenting the report ahead of the Lisbon event, chief executive officer Paddy Cosgrave noted that Portugal's startup ecosystem expanded by 132% between 2016 and 2025. The upcoming conference will feature a record contingent of Portuguese startups as well as roughly 300 participating startups from Brazil.

The government approved an extraordinary €40 million financial aid package to support farmers facing steep increases in fertiliser and energy costs. A separate complementary relief mechanism was also established for road freight and passenger transport operators to offset high operational expenses. The transport aid will cover up to 70% of extraordinary fuel costs incurred between October and December.

A new survey reveals that 68% of residents in Portugal report a significant decline in purchasing power over the past year, driven by rising costs for electricity, gas, and vehicle fuel. Portugal ranks as the seventh European Union country where citizens feel the rising cost of living most acutely. Projections from the European Commission also indicate that Portuguese workers face longer working lives than the EU average as the statutory retirement age continues to rise with life expectancy.

Former Social Democratic Party (Partido Social Democrata or PSD) parliamentary leader Duarte Lima went on trial at the Sintra Court (Tribunal de Sintra) for the 2009 murder of Rosalina Ribeiro. His defense team argued at the opening hearing that the statute of limitations (prescrição) has expired, 17 years after Ribeiro was shot dead in Brazil. Lima denies charges that he killed Ribeiro, a former client and business associate connected to the estate of late Portuguese banker Lúcio Tomé Feteira.

The Consulate-General of Brazil in Lisbon will begin accepting payments via the Brazilian instant payment platform Pix later this November. Authorized by Brazil's Ministry of Foreign Affairs, the Lisbon diplomatic post is the first Brazilian consulate in the world to adopt the digital payment tool. The system will allow Brazilian residents in Portugal to settle consular service fees directly through instant bank transfers.

State development bank Banco Português de Fomento will launch a €1.5 billion credit guarantee line this month to support commercial bank loans for affordable housing projects. The program provides financing guarantees for terms up to 30 years to housing cooperatives and construction companies developing homes for sale or rent. Executive board member Teresa Fiúza announced the initiative to increase access to credit and expand residential construction.