Portugal has faced persistent debt and deficit problems since the implementation of its first budgetary law. Budgetary management has evolved significantly over the last two centuries, transitioning from early preventive balances to modern digital systems.
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The Governor of the Bank of Portugal stated that interest rates paid on bank deposits in Portugal are significantly lower than in other European countries and noted there is room for them to rise. He indicated that financial supervisors are currently working on the issue and that news on the matter is expected soon.
The government is delivering the 2027 State Budget (OE2027) proposal today, which includes an update to IRS tax brackets, the specific deduction, and the subsistence minimum in line with inflation. Meanwhile, the government is preparing a health reform involving the merger of the Executive Directorate with the ACSS and the creation of a new public health agency.
The government has opened an exceptional aid scheme for farmers on the mainland impacted by Storm Kristin. Applications must be submitted via the IFAP (Institute for the Financing of Agriculture and Fisheries) portal by 30 October.