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Portugal Targets Budget Balance Amid €4 Billion Reconstruction Costs

2/16/2026

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Summary

Story summary

Portugal's Finance Minister Joaquim Miranda Sarmento said the government aims to balance the budget and reduce public debt despite storms.
Initial reconstruction costs are estimated at over 4 billion euros.
The government has allocated 2.5 billion euros in loans and incentives for recovery.
The budget surplus is expected to fall from 0.3% of GDP in 2025 to 0.1% in 2026, marking the fourth consecutive year of surpluses.

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Story summary

Portugal's Finance Minister Joaquim Miranda Sarmento said the government aims to balance the budget and reduce public debt despite storms.
Initial reconstruction costs are estimated at over 4 billion euros.
The government has allocated 2.5 billion euros in loans and incentives for recovery.
The budget surplus is expected to fall from 0.3% of GDP in 2025 to 0.1% in 2026, marking the fourth consecutive year of surpluses.