Portugal recorded a budget surplus of 249.3 million euros between January and August 2026, a decrease of 1.799 billion euros compared to the same period in 2025. The decline is primarily attributed to a drop in the Central Administration's balance, even when excluding debt regularization payments for the public health service (SNS).
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Portugal's public administration recorded a surplus of 5.064 billion euros between January and September 2026. This figure represents a decrease of approximately 1.239 billion euros compared to the same period in 2025.
Between January and September 2026, the Portuguese state collected 51.16 billion euros in tax revenue, a 6.5% increase compared to the same period in 2025. This growth was driven primarily by a 13.5% rise in personal income tax (IRS) and a 9.4% rise in value-added tax (IVA), despite decreases in corporate tax (IRC) and tax on oil products (ISP) receipts.
The Public Finance Council (CFP) considers the Government's forecast of a 0.1% GDP budget surplus for 2027 to be plausible, but warns that certain economic measures could threaten the budgetary targets.