Finance Minister Joaquim Miranda Sarmento announced that the 2025 budget surplus (excedente orçamental) will be a “pleasant surprise” when official data is released this Thursday by the National Statistics Institute (Instituto Nacional de Estatística or INE). While the government previously forecast a surplus of 0.3% of GDP, the final figure is expected to be significantly higher. However, officials warned that 2026 may face a deficit due to the economic impact of recent storms and international conflicts. Residents should note that a strong surplus often influences government decisions on tax cuts and public investment.
Finance Minister predicts 2025 budget surplus will exceed expectations
Tuesday, 24 March 2026AI summary
Context & Explainers
- Minister of State and Finance (2024–present)
- Party: Social Democratic Party (PSD), Partido Social Democrata
- Background: Economist, university professor (ISEG)
Joaquim Miranda Sarmento is Portugal's Finance Minister in the AD government led by Luís Montenegro. An economist and professor at ISEG (Lisbon School of Economics & Management), he served as PSD parliamentary group leader before joining the government.
As Finance Minister, he oversees the state budget, tax policy, public debt management, and fiscal relations with the EU. His decisions on tax brackets, IRS withholding tables, housing incentives, and public spending directly affect residents' cost of living and investment climate.
INE (Instituto Nacional de Estatística) is Portugal's official statistics office, responsible for collecting, processing, and publishing data on the economy, population, housing, employment, inflation, and social conditions.
Key INE publications include the Consumer Price Index (CPI), quarterly GDP figures, housing price indices, census data, and labor market statistics. These figures are widely used by policymakers, journalists, lenders, and international organizations to assess Portugal's economic and social trends.
INE data is publicly available at ine.pt, where users can access databases, press releases, and interactive tools covering everything from property prices to demographic shifts.
6 sources
- Finance Minister guarantees that the 2025 surplus "will be a pleasant surprise and good news for the country"Diário de Notícias ·
- 2025 surplus 'will be a pleasant surprise and good news'Observador ·
- 2025 surplus 'will be a pleasant surprise and good news for the country', says Miranda SarmentoCNN Portugal ·
- 2025 surplus 'will be a pleasant surprise and good news for the country', anticipates Finance MinisterCorreio da Manhã ·
- 2025 surplus 'will be a good surprise and good news for the country' says Finance MinisterRTP Notícias ·
- With the surplus lost, the Government still has room to reach a deficit of 0.5%Público ·
