CFP - Portuguese Public Finance Council

Macroeconomic forecasts underlying the 2027 Draft State Budget

Economic and Fiscal Outlook 2026-2030 (update)

Local Government Budget Outturn 2025

NHS performance in 2025

Social Security and CGA budget outturn 2025

The Portuguese Public Finance Council (CFP) is the Independent Fiscal Institution (IFI) that oversees the compliance with fiscal rules and the sustainability of public finances in Portugal.

Hearing before the 5th COFAP as part of the 2025 General State Account

Members of the Senior Board of the CFP were heard at the 5th Committee on the Budget, Finance and Public Administration (COFAP) at a hearing requested by the Chair of COFAP, Rui Afonso, as part of the examination of the GSA 2025.

CFP Chair attends EU IFIs workshop and meeting in Vienna

On 22 and 23 June, the Chair of the Portuguese Public Finance Council attended an international workshop in Vienna focusing on the impacts of inflation on public finances, as well as the meeting of the EU IFIs Network.

Macroeconomic Forecasts

The Portuguese Public Finance Council provides a comparative table on the latest macroeconomic projection exercises for the Portuguese economy. Last update on 29 september 2026.

Fiscal restraint instruments: how were they managed in 2025?

A significant part of the control over public expenditure is exercised through instruments that enable the Government to manage the implementation of the Budget throughout the year.