Afternoon Update -- March 2, 2026

Storm Regina Disrupts Madeira Flights

Depression Regina has forced the cancellation of 50 flights at Madeira International Airport as of mid-morning. IPMA has issued orange warnings for wind gusts (up to 110 km/h in highlands) and rough seas, with waves potentially reaching 11 metres by Tuesday. Conditions are expected to worsen before improving on Wednesday. Saharan dust will blanket the mainland until 4 March.

Tax Invoice Deadline Expires Today

Today is the final day to validate 2025 invoices on the Portal das Financas. Taxpayers must categorise expenses by sector on e-Fatura to maximise IRS deductions when filing begins in April. Health expenses at 23% VAT require prescription confirmation. Each household member must validate individually.

Business Confidence Hits 88%

The 46th Executive Digest Barometer shows sectoral optimism at its highest point in years. Investment intentions are up more than ten percentage points, with 56% of firms planning increased capital spending. However, 78% of executives say the state's economic footprint is too large, and 70% are now actively investing in artificial intelligence.

Festival da Cancao Finalists Set -- Eurovision Boycott Looms

Saturday's second semi-final completed the ten-act lineup for the Festival da Cancao grand final on 7 March. Seven of the ten finalists have pledged to boycott Eurovision over Israel's participation, leaving only three willing to represent Portugal in Vienna. RTP has not addressed what happens if a boycotting act wins.

INE Confirms 1.9% GDP Growth for 2025

The National Institute of Statistics confirmed that Portugal's economy grew 1.9% in volume last year, down from 2.2% in 2024. The fourth quarter was revised upward to 0.9% quarter-on-quarter growth, stronger than initial estimates. The figures underpin the business optimism reflected in today's barometer results.

Blue Economy Gains Traction Among Business Leaders

The Executive Digest Barometer introduced ocean economics for the first time, finding that 58% of companies view the blue economy as increasingly important. With Portugal holding the EU's third-largest exclusive economic zone, 64% of business leaders say the Strategic Plan for the Sea 2030 demands immediate action.

IP3 Roadworks Cause Overnight Closures

Major roadworks on the IP3 will require full closures between 9pm and 6am tonight and tomorrow night (Tuesday). Drivers travelling between the central interior and the coast should plan alternative routes or adjust timing.