Afternoon Update -- February 27, 2026

Good afternoon. Here is what is developing across Portugal this Friday.

INE confirms 1.9% GDP growth for 2025. Portugal's statistics institute published its preliminary annual accounts, confirming the economy expanded 1.9 per cent in real terms last year. Nominal GDP surpassed 307 billion euros for the first time. Domestic demand drove the growth, while net exports turned more negative as goods and services shipments slowed.

Ronaldo takes 25% stake in Spanish club Almeria. Cristiano Ronaldo's CR7 Sports Investments acquired a quarter of UD Almeria, currently third in Spain's second division. The deal adds to a growing business portfolio that includes hotel, fashion, and media ventures. Financial terms were not disclosed.

BTL tourism fair opens to the public today. The 36th edition of the Better Tourism Lisbon Travel Market -- billed as the largest ever -- opens to general visitors from 5pm at the FIL in Parque das Nacoes. The fair runs through Sunday, 1 March. The tourism sector is targeting six per cent growth nationally in 2026.

Portuguese banks deliver historic earnings. CGD posted record profits of 1.9 billion euros, with a 1.25 billion euro dividend heading to the state. BCP crossed one billion euros in net income for the first time. EDP reported 1.15 billion euros in profit, up 44 per cent, powered by its renewables arm.

New Interior Minister brushes off criticism. Luis Neves, the former head of the Policia Judiciaria who was appointed Minister of Internal Administration this week, dismissed criticism from former Prime Minister Passos Coelho, saying he was "absolutely shielded" against political attacks. Neves has said he does not subscribe to narratives linking immigration to insecurity.

Centro de Portugal reports record tourism year. The central region recorded 8.5 million overnight stays and 552 million euros in tourism revenue in 2025, both all-time highs. The figures were presented at BTL, where regional leaders called for tourism to be used as a tool for territorial cohesion beyond the Lisbon-Porto corridor.

Q4 GDP revised upward to 0.9%. In a separate release, the INE revised Portugal's fourth-quarter 2025 GDP growth to 0.9 per cent quarter-on-quarter, up from the initial estimate. The revision suggests the economy ended the year with more momentum than initially thought.

That is your Friday afternoon briefing. Feature articles on today's top stories are available on the site. Have a good weekend.