🏛️ Portugal's budget surplus nears 1% of GDP amid disaster response efforts

Oneliner

Portugal's budget surplus for 2025 is projected to reach nearly €3 billion, or 1% of GDP, significantly exceeding earlier estimates. Finance Minister Joaquim Miranda Sarmento emphasizes that any surplus should be used to reduce public debt rather than as a cushion. In response to recent storms causing over €4 billion in damage, the government plans to establish a disaster fund. Final budget figures will be confirmed by the National Institute of Statistics on 26 March 2026.

Key points

• Portugal's budget surplus for 2025 is projected to reach nearly €3 billion, or 1% of GDP.
• Finance Minister Joaquim Miranda Sarmento emphasizes using surplus for debt reduction, not as a cushion.
• The government plans to establish a disaster fund in response to recent storms causing significant damage.
• Final budget figures will be confirmed by the National Institute of Statistics on 26 March 2026.

Links

• Diário de Notícias: Governo tem folga orçamental histórica e um excedente de quase 1% do PIB para responder à calamidade
• Diário de Notícias: Governo tem folga orçamental histórica e um excedente de quase 1% do PIB para responder à calamidade

Facts

• Projected budget surplus for 2025: €3 billion (1% of GDP).
• Current public debt stands at approximately 90% of GDP.
• Damage from recent storms estimated to exceed €4 billion.
• Final budget figures to be published by INE on 26 March 2026.

Quotes

• We will do everything to maintain the balance of public accounts — Joaquim Miranda Sarmento
• In a preliminary estimate, everything points to it exceeding €4 billion — Manuel Castro Almeida

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