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Portuguese economy

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Europe

EU gives Spain, Portugal more time on deficits

The European Commission has shied away from punishing Spain and Portugal over their excessive budget deficits.

The European Commission has shied away from punishing Spain and Portugal over their excessive budget deficits.

Europe

EU OK's Portuguese government's spending plans

Portugal’s new socialist government has seen its first ‘anti-austerity’ budget approved by the European commission. Since 2013, the EU executive has

Portugal’s new socialist government has seen its first ‘anti-austerity’ budget approved by the European commission. Since 2013, the EU executive has

News

Portugal given back four public holidays

Four public holidays have been reintroduced in Portugal, two years after they were axed in an austerity drive. The new Socialist government obtained

Four public holidays have been reintroduced in Portugal, two years after they were axed in an austerity drive. The new Socialist government obtained

Business

Will anti-austerity Portugal become the new Greece?

Is Portugal about to take the same path as Greece? That’s the question being asked as the country’s new Socialist government was sworn in promising

Is Portugal about to take the same path as Greece? That’s the question being asked as the country’s new Socialist government was sworn in promising

Business

Start-up city: why Lisbon is luring entrepreneurs

Lisbon has much to offer the multitudes of tourists who visit every year but it’s now also proving attractive to entrepreneurs. Under a special

Lisbon has much to offer the multitudes of tourists who visit every year but it’s now also proving attractive to entrepreneurs. Under a special

News

Portugal's government precarious, income gap widens

As the cheering dies down, Pedro Passos Coelho’s victory is laced with defeat after Portugal’s legislative elections a few weeks ago (Oct. 4th). He

As the cheering dies down, Pedro Passos Coelho’s victory is laced with defeat after Portugal’s legislative elections a few weeks ago (Oct. 4th). He

Europe

Bailout ballot: Portuguese election stokes austerity debate

The coming Portuguese general election raises themes of austerity, reform and growth that Europe has become all too familiar with in recent years

The coming Portuguese general election raises themes of austerity, reform and growth that Europe has become all too familiar with in recent years

News

BES: angry savers clamour for their cash in Portugal

Angry customers clamour to get their savings back from the collapsed Portuguese bank Espirito Santo. It is a battle of “Davids versus a Goliath”

Angry customers clamour to get their savings back from the collapsed Portuguese bank Espirito Santo. It is a battle of “Davids versus a Goliath”

News

Portugal weighs prizes and pain of four years of austerity

Portugal quit its 78-billion euro bailout scheme last May, having signed up to a rescue plan in 2011 as its borrowing costs soared. By 2012 they

Portugal quit its 78-billion euro bailout scheme last May, having signed up to a rescue plan in 2011 as its borrowing costs soared. By 2012 they

Business

Portugal's bailout lenders review 2015 budget and reforms

Inspectors from the so-called troika – the International Monetary Fund, the European Union and the European Central Bank – are back in Portugal for

Inspectors from the so-called troika – the International Monetary Fund, the European Union and the European Central Bank – are back in Portugal for

News

Portuguese government increases minimum wage

The Portuguese government has raised the country’s monthly minimum wage by 20 euros to 505 euros. The decision came after weeks of negotiations

The Portuguese government has raised the country’s monthly minimum wage by 20 euros to 505 euros. The decision came after weeks of negotiations

Business

Portugal puts Banco Novo up for sale

Portugal’s Novo Banco, the healthy part of the former number two bank in the country, is up for sale. BES continues after the government’s rescue

Portugal’s Novo Banco, the healthy part of the former number two bank in the country, is up for sale. BES continues after the government’s rescue

Business

Portugal's BES posts 3.5 billion euro loss

Portugal’s Banco Espirito Santo – the country’s third biggest bank has posted a massive first-half loss of 3.5 billion euros. It said to be due

Portugal’s Banco Espirito Santo – the country’s third biggest bank has posted a massive first-half loss of 3.5 billion euros. It said to be due

News

Portugal's bailout is over, but not the austerity

After three years of austerity, Portugal is exiting its international bailout. Like Ireland it will make a “clean exit” without the need for a credit

After three years of austerity, Portugal is exiting its international bailout. Like Ireland it will make a “clean exit” without the need for a credit

Business

Bye bye bailout: Portugal exits without credit line

Portugal has announced that it will be exiting its 78-billion-euro bailout programme. Lisbon was forced to seek the bailout from the European Union

Portugal has announced that it will be exiting its 78-billion-euro bailout programme. Lisbon was forced to seek the bailout from the European Union

Business

Portugal achieves record bond sale ahead of bailout exit

Portugal has held its first auction of government bonds in three years and easily sold 750 million euros worth. The bonds – which are due to mature

Portugal has held its first auction of government bonds in three years and easily sold 750 million euros worth. The bonds – which are due to mature

Business

Portugal unveils latest austerity moves

Portugal has detailed how it plans to slash another 1.4 billion euros from government spending The cuts are needed to reduce its budget deficit

Portugal has detailed how it plans to slash another 1.4 billion euros from government spending The cuts are needed to reduce its budget deficit

News

Scuffles in Portugal as police protest over wage cuts

Thousands of off-duty police officers have been demonstrating in Portugal against cuts to their wages, pensions and welfare benefits. They gathered

Thousands of off-duty police officers have been demonstrating in Portugal against cuts to their wages, pensions and welfare benefits. They gathered

Business

Portugal buys back bonds preparing for bailout exit

Portugal has bought back 1.23 billion euros of its government bonds that were due to mature later this year and next. The move is intended to

Portugal has bought back 1.23 billion euros of its government bonds that were due to mature later this year and next. The move is intended to

Business

Portugal's CTT shares jump on market debut

Shares in Portugal’s postal service CTT rose on the Lisbon stock exchange as they went on sale for the first time on Thursday. Privatising it was

Shares in Portugal’s postal service CTT rose on the Lisbon stock exchange as they went on sale for the first time on Thursday. Privatising it was

Business

Portugal to slash public sector salaries by up to 12%

Amid angry protests on the streets of Lisbon, the Portuguese parliament has approved the country’s budget for 2014. 600,000 public sector workers

Amid angry protests on the streets of Lisbon, the Portuguese parliament has approved the country’s budget for 2014. 600,000 public sector workers

News

Thousands protest in Portugal against austerity budget for 2014

It is a day of “national outrage, protest and struggle” in Portugal. That’s how the country’s biggest union referred to the rallies and demos which

It is a day of “national outrage, protest and struggle” in Portugal. That’s how the country’s biggest union referred to the rallies and demos which

Business

Portuguese parliament backs austerity budget

Portugal’s lawmakers have given outline approval to a budget bill for 2014 that slashes spending on state pensions, public sector wages, healthcare

Portugal’s lawmakers have given outline approval to a budget bill for 2014 that slashes spending on state pensions, public sector wages, healthcare

Business

Portugal bond yields rise as top court rejects austerity bill

The cost of borrowing for Portugal’s government has risen after the country’s constitutional court rejected a bill that would have effectively

The cost of borrowing for Portugal’s government has risen after the country’s constitutional court rejected a bill that would have effectively

Business

Portugal's jobless total falls for first time in two years

The number of people out of work in Portugal was down for the first time in two years between April and June. The jobless rate fell to 16.4

The number of people out of work in Portugal was down for the first time in two years between April and June. The jobless rate fell to 16.4

News

Portugal social protest fury grows

Analysts have been calling Portugal a political time bomb for quite a while. The ticking is growing louder. The Speaker of the chamber, Assunção

Analysts have been calling Portugal a political time bomb for quite a while. The ticking is growing louder. The Speaker of the chamber, Assunção

News

Political deadlock in Portugal over bailout terms

Portugal is facing another hurdle towards the goal of ending its dependence on international funding. The opposition Socialist party is demanding a

Portugal is facing another hurdle towards the goal of ending its dependence on international funding. The opposition Socialist party is demanding a