Paulo Macedo, the CEO of Caixa Geral de Depósitos (Caixa Geral de Depósitos or CGD), has advocated for increasing salaries for public administration officials. He argued that these wages should no longer be indexed to politicians' salaries and suggested that the state should offer more flexibility in rewarding top-performing employees to improve public service quality.
Caixa CEO calls for higher public sector salaries
Thursday, 18 June 2026AI summary
Context & Explainers
Caixa Geral de Depósitos is Portugal’s largest state-owned bank and a major retail and corporate lender. In 2025 it posted a 10% profit increase — helped by selling its stake in Águas de Portugal — and will pay a €1.25 billion dividend to the State, which can affect public finances and confidence in the banking sector.
Paulo Macedo is the chief executive officer of Caixa Geral de Depósitos (CGD), Portugal's state-owned bank, a position he has held since 2017. A former Minister of Health (2011–2015), he is a prominent figure in the Portuguese financial sector and frequently comments on national economic and public administration policy.
3 sources
- Caixa CEO advocates for better salaries for public officialseco.sapo.pt ·
- Paulo Macedo advocates for better salaries for public officials and an end to indexing them to politicians' paydn.pt ·
- Paulo Macedo advocates for better salaries for public officials and an end to indexation to politicians' salariesrtp.pt ·
