Budget deficit expected to be 0.5% in 2022
For 2024, the CFP anticipates a reduction of the budget deficit to 0.1% of GDP, mainly reflecting the dissipation of the effect of measures to respond to the increase in fuel and energy prices.
GDP expected to grow 1.2% this year
The Public Finance Council's(CFP) scenario is in line with the Portuguese government's estimate, which sees GDP increasing by 1.3%.
Delta to resume direct flights between Lisbon, Boston
Delta Air Lines will over the summer operate up to 14 flights a week between Portugal and the US, with a capacity of up to 430 seats per day.
Flag carrier TAP records €65.6M profit in 2022
TAP's restructuring plan, approved by the European Commission at the end of 2021, envisaged that the airline would start making a profit in 2025.
Foreign investment boosts economy, says OECD
In 2020, it adds, "companies owned by foreigners represented only about 2% of companies in Portugal, but employed 18% of the national workforce" and were responsible for 46% of exports.
Portugal to remove barriers to promote competition
OECD advocates "reviewing the statutes of professional associations as part of the implementation process".
Glass producer to invest €1B over next five years
"BA Glass Romania will invest €70 million in a new state-of-the-art furnace in Bucharest and a new 25,000 square metre warehouse".
Lidl exported 27,000 tonnes of fruit, veg in 2022
In total, 1,533 trucks loaded with fruit and vegetables from 505 producers in Portugal left the country for markets such as Germany, France, Spain, Luxembourg, Belgium, Switzerland or Poland.
Lisbon stocks fall further as BCP shares are down 4%
BCP's slide was followed by those of Sonae, Altri and Galp, which fell 3.5% to €0.93, 2.6% to €4.47 and 2.4% to €9.65 respectively.
Rui Nabeiro, founder of Grupo Nabeiro dies (1931-2023)
Manuel Rui Azinhais Nabeiro was born on 28 March 1931, in Campo Maior, in the district of Portalegre.
Lack of immigration officers causes chaos at Faro airport
The worst affected passengers were those from and to the United Kingdom, whose departure from the European Union now requires documentary control at departures and arrivals.
Savannah Resources submits revised lithium mining plan
The company said in early July 2022 that it was notified by the APA to reformulate the project, before the DIA was issued.
Mota-Engil wins $72M contract to refurbish Luanda naval base
The public works contract for the design, refurbishment and equipping of the Luanda Naval Base, located on Luanda Island, will be signed between Mota-Engil and Simportex.
Medicinal cannabis group to invest €9.5M in Coimbra
The 60,000 square meter factory has an investment of €6.5 million and should be completed in November this year. A further €3 million is also planned by the end of 2024.
Greenvolt enters Italian renewables market
"The Italian market offers us enormous opportunities for growth", says Greenvolt's CEO, João Manso Neto.
Sonae conglomerate sees 2022 profits fall 17% to €179M
Sonae justified the decrease of profits with the "effort to stand by families by absorbing part of the inflation".
PM slams timid EC electricity market proposal
"The proposal that the European Commission presented for the reform of the electricity market is very timid," argued António Costa.
Consular, overseas mission staff to strike in April
After several meetings with representatives from the ministry of foreign affairs, the two counter-proposals presented by the union for the revision of salary scales remained unanswered.
Public debt agency places €723M in treasury bills
€423 million in six-month BTs were placed at an average yield of 2.893%, against the 2.417% seen in the auction on 18 January.
100 renewable gas producers waiting to access the grid
Currently, the Distribution Network Development and Investment Plan (PDIRD) 2020 for the years 2021-2025 is still awaiting approval.
Portugal sales of Spanish food retailer Mercadona jump 78%
By the end of 2023, Mercadona plans to invest €1.1 billion "to continue driving forward its strategic transformation plan" - with €280 million of this earmarked for Portugal.
SATA Azores airline recovering significantly
Although SATA's accounts for 2022 have not yet been closed, Gonçalves said that the company's net profit "will be better than that" recorded in previous years.
No parallel in country’s banking system’ to SVB collapses
Silicon Valley Bank (SVB) on Friday announced bankruptcy; since then Signature Bank has also closed its doors.