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CCP

Gustavo Paulo Duarte Walks Into the CCP Presidency at the Centro Cultural de Belém on Wednesday Evening 13 May — Three-Year Mandate Closes the 16-Year Vieira Lopes Era at the Confederation Representing 60–70% of Portuguese GDP

Gustavo Paulo Duarte was sworn in as president of the Confederação do Comércio e Serviços de Portugal at the Centro Cultural de Belém on Wednesday 13 May 2026, ending João Vieira Lopes's 16-year run at the patronal body for the sector that carries 60–70% of Portuguese GDP.

IRS Jovem

Sarmento Tells the IMF Mission IRS Jovem Is a 'Political Choice' on Wednesday 13 May — Finance Minister Pairs the Youth Tax Break With the Garantia Pública and IMT Isenção, and Reopens the Restaurant-IVA Debate Calling the 2016 Cut a 'Gross Error'

Sarmento defended IRS Jovem on Wednesday as a 'political choice' after the IMF recommended reversing it for budgetary cost and unclear impact on emigration. He also flagged support for raising restaurant VAT from 13%, calling the 2016 cut a 'gross error' worth €1 billion a year.

INE

INE Confirms April Inflation at 3.3% Year-on-Year on Wednesday 13 May — Energy Climbs to 11.7% on Brent-and-Hormuz Pass-Through, Unprocessed Food at 7.4%, Core Print Lifts to 2.2% as the Headline Sits 0.3 Points Above the Eurozone Average

INE confirmed April inflation at 3.3% YoY on Wednesday — revised down 0.1 point from the flash estimate but still 0.6 points above March. Energy climbed to 11.7%, unprocessed food to 7.4%, and core inflation lifted to 2.2%. Portugal's headline now sits 0.3 points above the eurozone.

Euribor

Euribor 3-Month Climbs to 2.252% on Wednesday 13 May — Highest Print Since April 2025 as the Six-Month Settles at 2.485% and the Twelve-Month Reaches 2.798%, Putting Mild Pressure on Portuguese Variable-Rate Mortgages

The 3-month Euribor fixed at 2.252% on Wednesday 13 May, its highest level since April 2025. The 6-month settled at 2.485% and the 12-month at 2.798%. The drift up the curve reverses the spring 2025 ECB-cut narrative and tilts Portuguese variable-mortgage resets modestly higher.

Justice

Polícia Judiciária Walks Three Suspects Into the Tribunal de Instrução Criminal do Porto on 13 May — Operação 'Saco Roto' Detects Over €1.8 Million of EU Funds Diverted Through 30 Co-Financed Operations Across Seven Districts, €100,000 Cash Seized

Polícia Judiciária's Guarda DIC arrested three suspects on Wednesday 13 May in Operação 'Saco Roto', detecting more than €1.8 million of EU co-financing diverted across 30 operations. About €100,000 cash seized. Detainees presented to Tribunal de Instrução Criminal do Porto.