🌧️📉 Storm Kristin may halve Portugal's 2026 growth

Oneliner

Storm Kristin has caused an estimated €2.5 billion in damages in Portugal, particularly affecting the Centro region. This could reduce the country's GDP growth forecast for 2026 from 2.3% to 1.3%. The government has initiated a reconstruction mission, led by Paulo Fernandes, to coordinate recovery efforts. Key industries, especially glass and ceramics, face significant disruptions, with many factories halted and exports at risk. The long-term economic impact remains uncertain as recovery efforts begin.

Key points

• Preliminary damage from Storm Kristin estimated at €2.5 billion.
• 2026 GDP growth forecast could drop from 2.3% to 1.3%.
• Government has initiated a reconstruction mission for the affected Centro region.
• Industrial sectors, particularly glass and ceramics, face significant disruptions.

Links

• Diário de Notícias: Tormenta pode reduzir crescimento da economia para metade em 2026 ou até afetar os próximos anos
• Expresso: Economia portuguesa vai crescer este ano, mas a depressão Kristin deverá complicar as contas
• Rádio Renascença: Reerguer Leiria com 2,5 mil milhões? "É muito mais caro do que se tivesse sido investido metade ao longo do tempo"

Facts

• Storm Kristin hit Portugal on 28 January 2026.
• Preliminary damage estimate is €2.5 billion.
• GDP growth forecast for 2026 could drop from 2.3% to 1.3%.
• The Mission Structure for Reconstruction is led by Paulo Fernandes.
• About 34,000 operatives are currently involved in recovery efforts.

Quotes

• The damage is much greater than expected — Luís Montenegro
• The losses will run into millions — Tiago Moreira da Silva

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