Finance: Transparency news in Portugal

Alexandra Leitão and the controversy over party donors: "Transparency and scrutiny should prevail over data protection"

Four public entities leave anti-fraud group for European funds

The Regionalisation That Needs to Be Done

ECA detects a suspected case of fraud involving European funds in Portugal

The European Court of Auditors has identified a potential instance of fraudulent use of EU funding within Portuguese territory.

Jornal de Negócios7 Oct

Mission of the free press

They probably tried to archive the investigation through silence, but the data we had was irrefutable.

PS demands documents from the Government regarding the purchase of 13.7% of REN and a 50 million euro bonus to the shareholder

The Socialist Party (PS) has requested all documentation from the Government concerning the purchase of REN shares, as well as a list of the individuals involved, and announced a forthcoming bill to impose stricter requirements on state asset acquisitions. PS deputy Marcos Perestrello criticised the state for paying nearly double for REN compared to its 2014 divestment, noting that the price included an unjustified bonus of over 50 million euros to the shareholder. The PS is seeking transparency on whether the Government initiated the purchase or if the shareholder approached the state to sell. Additionally, the party plans to introduce legislation requiring economic feasibility studies, technical-political justification, and at least two independent valuations for future state acquisitions. The purchase of 13.7% of REN from Pontegadea, the investment firm of Amancio Ortega, marks the first phase of a plan to acquire up to 20% of the company's capital.

Public bank pays for luxury trips to Paris

The Banco Português de Fomento is paying for the travel of its Strategic Advisory Council, which has 20 members, to Paris, but does not specify how many people are going or the cost of the trip.

9 PM. Fuels. Graça Carvalho calls for more transparency

She states that the public must be better informed about how fuel prices are set. Additionally, the Minister of Justice considers that it is not the Government that is weakening the PJ.

Social Security transparency

It is clearly preferable to have a global view of the State's obligations towards its citizens — even if it forces us to note that some of the beneficiaries have a special status.

Our list of shame

Can the Government conduct the REN deal without consulting anyone?

Portugal's FREMM EVO Frigates Cost €1.3B Each, Nearly Double Italy's €750M Price for Same Ship, Sparking Political Scandal Over Transparency

Defense Express20 Aug

One in three Government members declared owning companies

Expresso: One in three Government members declared owning companies. Sol: Contractor and friend of the Minister of Internal Administration carried out works at the home of the PJ's financial director. Público: Portugal fails to reduce road deaths.

Court of Auditors certifies the Presidency of the Republic's accounts, but warns that there are "matters that must be improved"

An audit by the court led by Filipa Urbano Calvão guaranteed “reasonable assurance” regarding the financial and budgetary statements of the Presidency of the Republic in 2025

Where Portugal’s Golden Visa funds invest: A map of 26 publicly disclosed companies

ABC17NEWS2 Aug

Appointments to the Public Finance Council now require parliamentary approval

According to the Government, the statutory change “strengthens the guarantees of independence, transparency, and access to information for the CFP”.

Marcelo's financial assets fall by half in 10 years as President

The total value of financial assets fell from 384,000 euros in 2016 to 185,000 euros in 2026

9 PM. Bank of Portugal Governor announces changes to new headquarters project

The location remains the same, but instead of two buildings, the new project now plans for only one. Álvaro Santos Pereira estimates savings of at least 35 million euros. Additionally, the CDS party has requested a Public Prosecutor's investigation into the Bank of Portugal headquarters deal.

Álvaro Santos Pereira made capital gains of 3,361 euros from shares he later donated

The Governor of the Bank of Portugal had already indicated that the capital gains were donated to an institution, adding that the amount was 3,361 euros, which was donated to Make-A-Wish.

António José Seguro declares assets of 1.2 million euros

Among the new items in the President of the Republic's income declaration are three bank loans at Santander Totta and the information that he is a creditor of asset guarantees worth approximately 689 thousand euros.

The Recovery and Resilience Plan and the European Court of Auditors' warning

With a total investment of 22.2 billion euros, split between grants and loans, the Recovery and Resilience Plan (PRR) represents extraordinary funding to implement reforms and investments aimed at ensuring the country's socio-economic development, particularly in the areas of environmental and digital transition, economic growth, social and territorial cohesion, and education policies, which will require monitoring and evaluation. Within the scope of the Recovery and Resilience Facility (RRF), which funds the PRR and came into force in 2021 with a total of 800 billion euros, the Portuguese PRR aims to provide the country with better conditions for economic growth and living standards. Given the high financial effort involved, it is in the public interest to promote scrutiny of these investments. It should be noted that a recent report from the Public Prosecutor's Office warned of flaws in the oversight and control system, as there is no guarantee of proper handling in the allocation of these PRR funds, and fearing that there are no guarantees regarding the effective functioning of the national PRR control system, it also drew attention to the problem of a shortage of audits. Meanwhile, the European Court of Auditors also warned about a month ago about the limitations of the RRF, which funds the PRR, particularly regarding its transparency, pointing out gaps in the disclosure of results and beneficiaries, noting that it would be advisable for Member States to collect data systematically upon request. In a report on the transparency of the RRF, the European Court of Auditors (ECA) shows concern about a potential problem in the allocation of funds and a lack of transparency, highlighting that there are gaps regarding the collection and disclosure of information on who ultimately benefits from the mechanism and to what extent. In other words, faced with a disparity of approaches by Member States, the entity observes that it will be necessary to strengthen systematic access to data in a detailed and transparent manner. Considering that systematic collection allows for better 'control and fraud prevention', the ECA recommends that the European Commission ensure the complete, systematic, and timely collection and publication of information on European Union funds and use actual cost data to assess the efficiency of monitoring and control systems, specifically by strengthening systematic physical visits to ongoing projects.

Oversight of Defence investments will be the 'most transparent', says minister

The Minister of Defence stated that the mechanism created by the Government to oversee investments in the sector will be 'the most effective and transparent' in the history of democracy and highlighted the centrality of the Navy in the current international context. During the official Navy Day celebrations in Setúbal, Nuno Melo referred to the approval on Thursday by the Council...

Court of Auditors accuses Government of wanting to leave eight billion in public contracts without oversight

The Court of Auditors has warned that a new government bill, proposed by Prime Minister Luís Montenegro and Minister of State Reform Gonçalo Matias, would significantly weaken public finance oversight. The court claims the proposal would reduce the scope of its prior audit by approximately 60%, potentially leaving eight billion euros in public contracts unchecked. The Court argues that the bill undermines its ability to prevent, monitor, and hold public managers accountable for the misuse of taxpayer money, while the government contends that current oversight rules act as a barrier to public investment and economic efficiency.

European Court of Auditors says PRR funds are only traceable "to a certain extent"

The institution states that there are gaps in the disclosure of results and beneficiaries.

PRR lacks transparency and has flaws in tracking the money

The European recovery fund lacks transparency and has flaws in tracking the money, which are fundamental characteristics for protecting the European Union's accounts. In its most recent report, the European Court of Auditors warns of the risks of using a model that is not based on actual costs in the next 2028/2034 financial framework and highlights...

Santos Pereira must go to Parliament to clarify purchases

After it became known that the Governor of the Bank of Portugal bought shares in non-financial companies while already in office, Parliament voted in favour of a hearing for Santos Pereira.

Parliament summons Bank of Portugal governor to clarify share purchases

On Wednesday, May 6, the PSD, CDS-PP, Chega, IL, and PS parties approved a request for the parliament to hear Bank of Portugal governor Álvaro Santos Pereira regarding his purchase of company shares while leading the institution. The request, initiated by Chega following a report by the newspaper Público, was unanimously approved by the Budget, Finance, and Public Administration Committee. Santos Pereira, who has led the central bank since October 2025, purchased shares in companies such as Jerónimo Martins, Galp Energia, Nestlé, and The Navigator Company between December 2025 and January 2026. He was subsequently required by the European Central Bank (ECB) to divest these holdings. While the governor stated he proactively communicated these transactions to the ECB and has since sold the shares and donated the capital gains to charity, political parties argued that a parliamentary hearing is necessary to ensure transparency and protect the institution's reputation.

Governor of the Bank of Portugal only declared 1,166 euros to the Transparency Entity

The Governor of the Bank of Portugal reported only 1,166 euros in assets to the Transparency Entity.

Now Canal5 May

Governor of the Bank of Portugal has only 1166 euros in the bank

Santos Pereira declared to the Transparency Entity that he has money in three current bank accounts.

Governor of the Bank of Portugal declares having only 1,166 euros in his bank account

The Governor of the Bank of Portugal has disclosed that his personal bank account balance is 1,166 euros.

Executive Digest5 May