The timeline for discussing the Government’s State Budget proposal for 2026 was established today during a meeting of parliamentary leaders.
The second budget proposal from the PSD/CDS executives, led by Luís Montenegro, will enter the Assembleia da República on October 10, a Friday, following its approval by the Council of Ministers.
Before the general debate in the plenary, the proposal will be presented by the Minister of State and Finance, Joaquim Miranda Sarmento, to the Budget and Finance Committee on October 24 at 10:00 AM. On the same day, in the afternoon, the Minister of Labor, Solidarity, and Social Security will also be present at the committee.
The detailed budget process in the plenary will begin on November 20.
Last year, the 2025 Budget, the first of a Government under Luís Montenegro, was approved in a final overall vote by PSD and CDS, with abstention from PS, and votes against from Chega, Iniciativa Liberal, Bloco de Esquerda, Livre, PCP, and PAN.
Speaking to journalists on Tuesday, Joaquim Miranda Sarmento highlighted that Portugal registered a more significant debt reduction, standing at 93.6% of GDP.
Regarding the projection from the Public Finance Council, which indicates the Portuguese economy will grow by 1.9% this year and 1.8% in 2026—a downward revision from April’s forecast due to lower public investment and exports—the Finance Minister acknowledged that the next year will be more challenging from a budgetary perspective.
Joaquim Miranda Sarmento noted a significant volume of loans from the Recovery and Resilience Plan to be executed, but argued that the known figures contribute to improving public accounts, while emphasizing the challenging nature of 2026.
According to the report submitted to 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 suggesting Portugal might return to deficits next year, the Finance Minister has maintained the projection of a 0.1% surplus in 2026.
