Portugal

Relevant News Item 9th February 2026

Socialist António José Seguro wins Portugal’s Presidential Election

Socialist former minister António José Seguro has secured a clear victory in the second round of Portugal’s presidential elections. With 99.05% of the votes counted, Seguro achieved 66.79%, compared to the 33.21% obtained by the far-right candidate André Ventura of the Chega party. With this triumph, a leftist figure returns to the Palácio de Belém—the seat of the Portuguese Presidency—twenty years after Jorge Sampaio left office in 2006. Sampaio was…

In Europe 29th October 2025

Portugal approves 2026 budget, sign of stability after last year’s political crisis

Bankinter | With votes in favour from the PSD (Social Democratic Party) and the CDS (Democratic and Social Centre) — which form the AD coalition —, the abstention of the PS (Socialist Party) was enough for the government to pass its first major parliamentary test. The document now enters the speciality phase, in which the various parties may table amendments, although the government has already warned that the scope for…

In Europe 15th September 2025

Fitch raises Portugal’s rating from ‘A-’ to “A” with ‘stable’ outlook, highlighting fiscal consolidation and debt reduction

Bankinter | The rating agency Fitch has upgraded Portugal’s rating from ‘A-’ to “A”, with a ‘stable’ outlook, highlighting fiscal consolidation, strong debt reduction and improvements in the external position. Fitch noted that public debt fell from 134.1% of GDP in 2020 to 96.4% in the first quarter of 2025, while public accounts continue to stand out with a projected surplus in 2025 (0.1% of GDP) and moderate deficits in…

European politics 2nd June 2025

Two-party system ends in Portugal: Chega overtakes Socialist Party to become second political force

Bankinter | Chega overtook the Socialist Party (PS) and, after the votes of emigrants in the legislative elections were counted, became the second political force with the most deputies in Parliament. The party led by André Ventura, which won in the two emigrant districts – Europe and Outside Europe – will elect two more deputies and will have 60 representatives in Parliament, two more than the PS, which has 58….

In Europe 4th March 2025

S&P confirms France’s rating at AA-/A-1 due to uncertain fiscal strategy, raises Portugal’s to A from A- due to current account surpluses

Bankinter | S&P confirms the AA-/A-1 rating of France, but downgrades the Outlook from Stable to Negative. It cites a weakening of public finances. The Budget for 2025 has been approved and proposes a reduction of the deficit of 0.4% of GDP, but the fiscal strategy from 2025 is uncertain. In addition, S&P forecasts GDP growth of <1% in 2025, making the goal of fiscal consolidation even more difficult. In…

In Spain 4th February 2025

Disa buys Q8 network in Portugal and becomes third largest oil company in country

The DISA Group has completed the purchase of 55 service stations from the Q8 network (owned by Kuwait Petroleum) in Portugal, thus expanding its presence in the Portuguese market where it becomes the third operator by number of service stations (312) with a market share exceeding 11%. The leader is the Portuguese company Galp, with 30%, followed by Repsol with 17%. The operation was finalized on January 31 and integrates…

Portuguese real estate has recovered remarkablyrecovery.

European economy 18th November 2024

European ratings: Moody’s maintains Portugal’s outlook at A3 stable and Fitch and S&P maintain Ireland’s at AA

Bankinter | Moody’s maintains Portugal’s rating and outlook at A3 “Stable”. For our analysts this is good news for the Portuguese economy. “The financial rating agency considers that this rating is a reflection of a competitive and diversified economy”. Moody’s forecasts GDP growth of +1.6% in 2024 and +2.2% in 2025. However, it continues to point to challenges such as the high public debt ratio, although it acknowledges that it…

European economy 21st May 2024

Fitch maintains Spain’s rating at A- and outlook “Stable”, while Moody’s keeps Portugal’s rating and outlook at A3 “Stable”

Bankinter | Fitch maintains Spain’s rating at A- and the outlook “Stable”, given the resilience of the economy and the improvement in the labour market. Fitch estimates GDP growth of 2.1% and 2.0% for 2024 and 2025 respectively. Moreover, the credit rating agency points to the need to address the high structural unemployment rate. No surprises for our analysts: “Fitch maintains its credit rating one notch below S&P’s equivalent at…

In Spain 11th March 2024

José Montenegro’s right-wing alliance wins Portugal elections

José Alves (Capital Madrid) | The alliance of parties formed around the Democratic Alliance (AD), José Montenegro’s party, has won the elections held in Portugal this Sunday. He will not, however, be able to form a government unless he accepts the offer of the former ruling Chega party to support him, which does not seem likely if he fulfils his election promise. It will be the President of the Republic,…

In Europe 8th November 2023

Portuguese Prime Minister António Costa resigns over corruption scandal

Portugal’s Prime Minister António Costa has resigned after being implicated in a corruption scandal. On Tuesday morning the Portuguese Public Prosecutor’s Office announced that it was launching an investigation against him for possible prevarication, active and passive corruption, and influence peddling in lithium and hydrogen deals. Costa has acknowledged that he has not committed any crime, but has decided to put an end to eight years of a government that…

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