Latest news and stories about economic policy in government in Portugal for expats and residents.
Centeno will leave the Bank of Portugal, but he will not stop because “retirement is an administrative matter,” he says in an interview with DN. And, without committing himself, he says his future “is open.”
Miguel Relvas criticizes the government's lack of proactive measures to maintain economic competitiveness, proposing the implementation of non-habitual resident programs and Golden Visas to attract digital talent back to the country.
Mário Centeno, former Governor of the Bank of Portugal, discusses his retirement, his commitment to continued intellectual work, and his perspective on the state of Portuguese politics. He emphasises the need for political leaders to demonstrate preparation and substance, while remaining non-committal about his own future political involvement, describing his current status as a “conscious decision of freedom.”
The Minister of Environment and Energy, Maria da Graça Carvalho, assures that the Government is working on mitigating the economic impacts of the war in the Middle East, while admitting some scepticism regarding gas price caps, a hypothesis put forward by the President of the European Commission.
The President of the European Council is confident that EU leaders will approve support measures for high energy prices at this week's summit, describing the situation as a 'dramatic and challenging moment.' António Costa emphasized the need for temporary, targeted measures to address rising costs and highlighted the importance of energy independence through domestic production, including renewables and nuclear power. The summit follows the recent military escalation between Israel, the US, and Iran, which has sparked fears of a new energy crisis similar to 2022 due to potential disruptions in the Strait of Hormuz.
Available evidence suggests that the most effective social protection policies in the food sector are those that increase food supply or directly support the most vulnerable groups.
While participating in a demonstration against US attacks on Iran, the communist and Bloco leaders converged on what the reaction to the price hike crisis, resulting from the conflict in the Middle East, should be.
“It was necessary for the Government to openly control fuel prices and set price caps on essential goods,” stated the party coordinator, José Manuel Pureza.
The BE/Azores stated today that it will present an urgent legislative initiative in the regional parliament to prevent fuel price increases in the region, due to the conflict in the Middle East.
Fuel prices are rising, putting pressure on the entire supply chain. Members of Parliament Rui Afonso (Chega), Miguel Costa Matos (PS) and Inês Sousa Real (PAN) advocate for the return of 0% VAT.
Centeno leaves the Banco de Portugal after 20 years and having reached an agreement on his departure. He is expected to dedicate himself to university teaching now.
The former governor will teach at the University of Miami, in the USA, as a visiting professor.
Mário Centeno's long career at the Bank of Portugal has come to an end. After more than two decades as a staff member of the institution – having served as Governor between 2020 and 2025 – he signed the agreement this week that allows him to retire, ceasing his work at the bank. As ECO has learned, Centeno has already...
Portugal has recently reduced fuel taxes to help curb rising fuel prices, responding to ongoing economic pressures.
Portugal has reduced fuel taxes to help limit rising fuel prices, addressing recent economic pressures related to energy costs.
European Council President António Costa has invited UN Secretary-General António Guterres to attend next week’s EU leaders' summit. The meeting will focus on the war in Iran and its global economic repercussions, alongside European competitiveness. This marks a high-profile collaboration between the two former Portuguese prime ministers on the international stage. Residents should note that the summit's outcomes may influence future EU economic policy and energy security.
António Luís Santos da Costa (born July 17, 1961, in Lisbon) is a Portuguese lawyer and Socialist politician who served as Prime Minister of Portugal from 2015-2024 and currently serves as President of the European Council since December 1, 2024. After leading the Lisbon Municipal Assembly and practicing law, he was elected MEP (2004-2005) and entered parliament in 2002. He led the Socialist Party from 2014-2024, building unprecedented parliamentary coalitions with the Communist Party and Left Bloc (2015-2019) before winning an absolute majority in 2022. He resigned as PM in November 2023 following a corruption investigation, though subsequently cleared. The 27 EU member states elected him Council President in June 2024, making him the fourth full-time President and the first southern European socialist in that role.
Political Philosophy:
Costa represents moderate European social democracy, combining orthodox fiscal responsibility with progressive social investment. He prioritizes European integration, consensus-building, and pragmatic compromise over ideological confrontation. As Council President, he champions mediation between member states, improved EU inter-institutional relations, shorter decision-making processes, and regular visits to every EU capital to reconnect citizens with European institutions. His approach emphasizes "creative bridges" reconciling divergent interests while maintaining firmness on European values, particularly regarding Ukraine.
António Guterres is the Secretary-General of the United Nations and served as the Prime Minister of Portugal from 1995 to 2002. A member of the Socialist Party (Partido Socialista), he also led the UN Refugee Agency for a decade before taking the top UN post in 2017. Those living in Portugal should note that he remains a highly respected figure whose international influence often brings global attention to Portuguese diplomatic priorities.
There are 'no structural effects yet' on the economy from the skyrocketing fuel prices. This guarantee is given by the Minister of Economy, who assures that the Government is 'measuring' the impacts with 'constant attention'. Castro Almeida, in an interview with Rádio Observador, says that the current support measures for diesel will be extended...
The European Commission contradicts Lisbon: tax cuts on fuels are not one-off expenses and are not exempt from EU budgetary rules.
The European Commission clarified this Wednesday that energy sector subsidies, in light of the impact of the conflict in the Middle East, are not usually considered extraordinary, contrary to the Portuguese government's position. 'Energy support measures, such as the reduction of excise duties on energy products, are not normally considered extraordinary,' it specified.
Portugal had 1.56 million tonnes of physical oil and petroleum product reserves in the final quarter of last year, according to data from ENSE. Prime Minister Luís Montenegro announced that Portugal will release 10% of its strategic oil reserves to increase supply and help contain fuel prices, joining an International Energy Agency agreement to release 400 million barrels globally following the closure of the Strait of Hormuz.
Chega plans to propose the reinstatement of zero VAT on essential goods, a measure they aim to limit until the end of the year. Additionally, the party is advocating for further government action to reduce fuel taxes.
The energy transition is a critical issue that must be prioritized in economic, industrial, and climate policy discussions. It is essential for sustainable development and addressing climate change.
Economist Filipe Garcia emphasizes the necessity for changes in tax collection to finance the PTRR, suggesting that without adjustments, funding will need to come from increased taxes or cuts in other areas.
This analytical piece compares the positions of presidential candidates Fernando Seguro and André Ventura across seven key areas — from the economy and public safety to defence and foreign policy — highlighting how their different approaches would shape the role of the President in Belém. It argues that the next President will remain central to Portuguese political life through veto powers, constitutional defence, international representation and command of the armed forces, and suggests that courage, more than left‑or‑right alignment, is the decisive quality for voters to weigh in this campaign.
