Bank of Portugal Governor Mário Centeno stated that public spending is rising faster than revenue under the current government, drawing a comparison to the fiscal management during the José Sócrates administration.
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The Bank of Portugal reports that the national economy is showing greater resilience and has adopted a more optimistic outlook, while maintaining a stance of caution regarding future developments.
The government is attempting to mitigate the political impact of the cost-of-living crisis while maintaining fiscal discipline. Officials are balancing domestic political pressure from the opposition with the hope for a coordinated European response.
The government will formally submit the 2027 State Budget proposal to Parliament this Thursday, October 8, 2026, ahead of the October 12 legal deadline. The proposal will be presented by the Minister of State and Finance at 14:15, followed by a press conference at 16:00.