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CFP

CFP Flags the Pension Update Formula as Working in Only 10 of the Last 17 Years — €1.355 Billion in Extraordinary 2025 Top-Ups Underline the Drift From the Legal Mechanism

CFP Flags the Pension Update Formula as Working in Only 10 of the Last 17 Years — €1.355 Billion in Extraordinary 2025 Top-Ups Underline the Drift From the Legal Mechanism

The Conselho das Finanças Públicas (CFP) flags that Portugal's pension-update formula has been applied as the law sets out in only 10 of the past 17 years, with €1.355 billion in extraordinary measures layered on in 2025 alone. The drift is now a structural feature of the pension envelope.
The Portugal Brief
Portugal's Public Debt Climbs Back to 91% of GDP in Q1 2026 — BdP Adds €0.5 Billion in March to €283.2 Billion as the CFP Tells Brussels and Parliament the Government's 2% Growth Forecast Is 'Demasiado Otimista'

Portugal's Public Debt Climbs Back to 91% of GDP in Q1 2026 — BdP Adds €0.5 Billion in March to €283.2 Billion as the CFP Tells Brussels and Parliament the Government's 2% Growth Forecast Is 'Demasiado Otimista'

BdP puts Q1 2026 public debt at 91% of GDP — 1.3 points above end-2025, €283.2 billion. The CFP separately tells Bruxelas and Parliament the 2% 2026 growth forecast is biased upwards versus IMF 1.9% and BdP 1.8%, and that Portugal overshot the 2025 EU expenditure path.
The Portugal Brief