Economy

The Prime Minister has sided with Portugal’s banks over tough lending criteria for State-backed loans during the Covid-19 crisis. “The money must be distributed prudently because we’re dealing [...]

Portugal’s tax burden continued at the historic high of 34.8% in 2019 according to the National Statistics Institute INE. In 2019 the tax burden remained at the same level it had in 2018 but [...]

The oil industry has been particularly hard hit by the Covid-19 pandemic as a result of falling demand provoking a record low in international crude prices, huge market volatility and a glut in [...]

Portugal’s clearing banks have been given an extra year to comply with a Bank of Portugal regulation that they must have a capital reserve to cover the inherent risks from their lending activity. [...]

The real estate developer Corporgest has invested €6.2 million in a new development in the heart of Lisbon’s Chiado district. It involves the refurbishment of an 18th century building at Rua [...]

Exports from Portugal to Angola plummeted 22% in the first quarter of 2020 from €287 million from January to March 2019 to €224 million in Q1 of 2020. According to data from the National [...]

Novo Banco has received a cash injection of just over €1Bn from the Resolution Fund to support the bank’s cash-flow while the Portuguese State and US fund Lone Star decide what to do with the [...]

Portugal’s Finance Minister said on Thursday that he does not know exactly how much cash TAP will require to keep in the air. In an interview with RTP when asked if TAP would need a €500 million [...]

Portugal’s Government has injected the equivalent of 11.8% of GDP into the economy to keep struggling companies alive. Apart from monthly budget expenditure because of the pandemic, the State is [...]

The social effects of the Covid-19 pandemic are starting to bite in Portugal with more and more people being forced to seek help from the food bank charity Banco Alimentar. The President of the [...]