The President met with the Governor of the Bank of Portugal to discuss the country's economic situation and financial supervision. This meeting occurred alongside the release of the Bank's October Economic Bulletin, which projects 2.3% GDP growth for 2026 and 1.8% for 2027, with inflation easing to 2.4% in 2027.
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The European Court of Auditors (ECA) warns that the EU's debt could reach one trillion euros by 2027, primarily due to the European Recovery Instrument (IRUE) that funds the Recovery and Resilience Plans (PRR). The ECA urges the European Commission to develop a clear strategy for debt repayment and warns that, without new funding sources, member states may face increased contribution requirements in the 2028-2034 budget cycle to cover interest and capital repayments.
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.
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.