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Storms

Stack of euro banknotes representing the €1 billion BEI-funded post-tempestade credit envelope opened by Banco Português de Fomento on 1 June 2026

Banco Português de Fomento Routes a €1 Billion BEI-Funded Post-Tempestade Line — €500M SME Tranche to 12 Years, €250M via Commercial Banks, €250M for 30-Year Infrastructure Loans as Guarantee Applications Pass €1.9 Billion

BPF president Gonçalo Regalado opens a €1B post-tempestade credit envelope on 1 June — €500M direct SME loans to 12 years, €250M via commercial banks, €250M for 30-year infrastructure loans. Existing storm guarantees total €1.9B applications, €1.5B+ approved.
The Portugal Brief
Marcelo Signs the 12-Month Extension of the Storm-Impact Credit Moratoria Into Law on Thursday Evening 14 May — Decree Carries 7,400 Clients and €930 Million in Mortgage and Empresa Credit Through to End-April 2027

Marcelo Signs the 12-Month Extension of the Storm-Impact Credit Moratoria Into Law on Thursday Evening 14 May — Decree Carries 7,400 Clients and €930 Million in Mortgage and Empresa Credit Through to End-April 2027

Thursday evening 14 May 2026: Marcelo Rebelo de Sousa promulgates the Government decree extending the storm-impact credit moratoria by 12 months, locking the BdP-tracked 7,400 clients and €930 million in mortgage and empresa credit through to end-April 2027.
The Portugal Brief
Cláudia Reis Duarte Walks the IRC Modelo 22 Filing Deadline From 31 May to 19 June on Wednesday 13 May — Storm-Sequence Rationale Carries the Despacho Across Every Company Subject to IRC, Whether Storm-Affected or Not

Cláudia Reis Duarte Walks the IRC Modelo 22 Filing Deadline From 31 May to 19 June on Wednesday 13 May — Storm-Sequence Rationale Carries the Despacho Across Every Company Subject to IRC, Whether Storm-Affected or Not

Wednesday 13 May 2026: SEAF Cláudia Reis Duarte signs despacho walking Modelo 22 IRC filing deadline from 31 May to 19 June for all entities subject to IRC, with no surcharges. Cited rationale is the anomalous storm sequence's disruption of the accounting-closing cycle for 2025 accounts.
The Portugal Brief
Government Unveils Its €22.6 Billion Portugal Transformação, Recuperação e Resiliência Plan With 96 Measures Through 2034 — But DN/DV Finds 65% of the Headline Spend Already Sat Inside the OE2026 Six Months Ago

Government Unveils Its €22.6 Billion Portugal Transformação, Recuperação e Resiliência Plan With 96 Measures Through 2034 — But DN/DV Finds 65% of the Headline Spend Already Sat Inside the OE2026 Six Months Ago

Luís Montenegro's new PTRR packages €22.6bn through 2034 across three pillars — Recover (€5.33bn), Protect (€14.97bn), Respond (€2.32bn). DN/DV's read of the 96-measure annex finds 65% of the headline spend was already locked into October's OE2026.
The Portugal Brief
APA Pledges €111 Million to Rebuild a Coast Stripped of 20 Metres by Five Winter Storms — One Million Cubic Metres of Tagus Sand Now Pouring Onto Costa da Caparica Ahead of 1 June

APA Pledges €111 Million to Rebuild a Coast Stripped of 20 Metres by Five Winter Storms — One Million Cubic Metres of Tagus Sand Now Pouring Onto Costa da Caparica Ahead of 1 June

APA is dredging one million cubic metres of sand from the Tagus onto Costa da Caparica between now and June — part of a €111M coastal recovery programme covering damage from Storms Ingrid, Joseph, Kristin, Leonardo and Marta. Some stretches lost 20 metres of beach. Bathing season opens 1 June.
The Portugal Brief