Financial markets, banking, investment, and economic policy news from Portugal.
Portugal's headline inflation slowed to 3.0% in July from 3.2% in June, as fuel and fresh-food prices eased. But core inflation edged up to 2.6%, and the euro area moved the other way, rising to 2.9%.
State-owned Caixa Geral de Depósitos has found a buyer for its Brazilian subsidiary, selling Banco Caixa Geral — Brasil to newly formed MD Capital. The disposal, ordered by Brussels in 2016 as a condition of CGD's €3.9bn recapitalisation, completes a sale attempted twice before and is expected to cl
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.
Portugal's tax authority recovered a record €1,550.2 million through enforced collection in 2025, up 10% on 2024 and the most in a decade. VAT led with €523.6 million, ahead of IRS and IRC. Yet the total tax-debt stock still stands near €28 billion, over a third of it written off as uncollectible.
From 1 July, Portugal finally applies the EU's MiCA regulation to crypto. The Bank of Portugal handles authorisation and prudential oversight while the CMVM polices conduct, with fines reaching €5 million. A grandfathering window has closed, leaving only a handful of licensed operators.
In its June Economic Bulletin, the Bank of Portugal held its 2026 growth forecast at 1.8%, two-tenths below the 2% the government's budget assumes. Public finances stay healthy — a 0.2% deficit — but inflation above 3% and the closing recovery-fund window make the optimists' number harder to hit.
Variable-rate borrowers in Portugal face higher payments in July even though the Euribor appears to have peaked, because contracts reset on a lag. On a typical €150,000 loan, monthly instalments rise up to €60 for annual-reset mortgages. About half of primary-residence loans are variable-rate.
