Lisbon, Sept. 3, 2025 (Lusa) - The Portuguese Government on Friday approved, at a meeting of the Cabinet, the proposed state budget for 2026, a decision that was announced by the Cabinet office minister, António Leitão Amaro.
The Government's proposed state budget for 2026 must be submitted to Parliament by next Friday, 10 October, after the Minister of State and Finance, Joaquim Miranda Sarmento, presents the macroeconomic scenario for next year's budget to the parties with parliamentary representation.
The first reading and vote on the Government's proposed state budget for 2026 in Parliament will take place on 27 and 28 October, and the final overall vote is scheduled for 27 November.
Before the first reading and vote debate in plenary, the executive's proposal will be presented by the Minister of State and Finance, Joaquim Miranda Sarmento, to the Budget and Finance Committee on 24 October at 10:00 a.m. On the same day, in the afternoon, the minister of labour, solidarity and social security will be present at the same committee.
The committee stage process in plenary will begin on the 20th of November.
Last year, the 2025 Budget, the first of Luís Montenegro's government, was approved in a final overall vote by the PSD and CDS, with the PS abstaining and votes against from Chega, Iniciativa Liberal, Bloco de Esquerda, Livre, PCP and PAN.
Regarding the budget issue, the minister of state and finance, Joaquim Miranda Sarmento, has highlighted that Portugal has seen a "more pronounced reduction" in debt, which now stands at 93.6% of GDP (Gross Domestic Product).
As for the Public Finance Council (CFP) forecast that the Portuguese economy will grow by 1.9% this year and 1.8% in 2026 - a downward revision from the April projection due to lower public investment and exports - the minister of finance conceded that next year "will be more demanding from a budgetary point of view."
According to the report he delivered in Brussels in April, the Government expects to achieve a budget surplus of 0.3% of GDP this year and 0.1% in 2026.
Despite estimates indicating the possibility of Portugal returning to deficits next year, the minister of finance has maintained the projection of a 0.1% surplus in 2026.
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