Portugal's economy explained: GDP data, market trends, business developments, inflation, real estate, and economic policy. Analysis of how economic trends affect daily life and expat finances.
Bank of Portugal financial accounts show household financial assets reached about €402 billion in 2025, more than double the 2005 figure. Yet deposits and savings certificates still make up 44% of that wealth, even as household debt falls to 63% of GDP.
With roughly six weeks left before the plan closes, the government has submitted the seventh and final reprogramming of Portugal's PRR recovery fund. The Porto Metro Ruby Line loses €73 million in financing and 92 health centres shift to the loan component as Lisbon races to protect its allocation.
BPCE, the French group that took control of novobanco in April, has invited António Horta Osório to join the board as non-executive vice-chairman. The banker who once ran Lloyds and Santander UK returns to Portuguese banking, pending Bank of Portugal approval; CEO Mark Bourke stays put.
Finance Minister Joaquim Miranda Sarmento told Parliament the state will sell 'absolutely residual' holdings — 71 NOS shares, 0.25% of CTT and other odds and ends — that raise no meaningful revenue. The sale of the Hospital da Cruz Vermelha and the Estoril racing circuit is also being relaunched.
Germany's Hennig will build its first large-scale European plant in Figueira da Foz — a €51 million investment with €7.7 million in state support and around 452 jobs, making power-protection systems for data centres, hospitals and public buildings. Production starts in early 2028.
The European Central Bank published ten shortlisted designs for the next series of euro banknotes on Thursday and opened a public survey that runs until 21 September. One theme puts six cultural figures on the notes; the other puts six birds and a river. No Portuguese figure made the six.
INE's farm yearbook shows Portugal covered just 16.8% of its cereal needs in 2024/25 while olive oil hit 247.9% on the second-best campaign ever. Wine output fell 14%, the agrifood trade deficit widened to €6.3 billion, and real farm income per worker dropped 4.5%.
