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Financial markets, banking, investment, and economic policy news from Portugal.

Praca do Comercio in Lisbon, home to Portugal's Finance Ministry, seen from the Tagus

Portugal's Tax Authority Wraps Up This Year's IRS Settlements, With Refunds Due by 31 August

Portugal's tax office had until Friday to issue every IRS settlement note for 2025 income. Refunds must be paid by 31 August. Here is how to read your nota de liquidacao, where to find it, and what to do if it is wrong.

The Portugal Brief 31 Jul 2026

The illuminated Bank of Portugal building at night

Portugal's Inflation Retreats to 3.0% in July as Cheaper Fuel and Food Offset Sticky Core Prices

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%.

The Portugal Brief 31 Jul 2026

Nine Years On, CGD Finds a Buyer for Its Brazil Bank, Closing an EU-Ordered Exit

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

The Portugal Brief 30 Jul 2026

The ornate Banco de Portugal building illuminated at night in Porto, Portugal, its classical stone facade lit gold against a dark sky

Portuguese Households' Financial Wealth Doubles to €402 Billion, but Nearly Half Still Sits in Low-Yield Deposits

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.

The Portugal Brief 24 Jul 2026

Euro banknotes in various denominations spread out with a scattering of one- and two-euro coins resting on top

The Tax Authority Clawed Back a Record €1.55 Billion in Enforced Debt in 2025, With VAT in the Lead

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.

The Portugal Brief 09 Jul 2026

The illuminated neoclassical facade of a Bank of Portugal building lit up at night

Portugal Brings Crypto Under the EU's MiCA Rulebook From July 1, Splitting Supervision Between the Bank of Portugal and the CMVM

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.

The Portugal Brief 01 Jul 2026

Euro coins of various denominations spilling from a glass jar onto a white surface

The Bank of Portugal Pegs 2026 Growth Below the Government's, Exposing a Budget Gap

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.

The Portugal Brief 30 Jun 2026

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