CFP - Portuguese Public Finance Council

Local Government Budget Outturn 2025

NHS performance in 2025

Social Security and CGA budget outturn 2025

General Government budget outturn in 2025

National Medium-Term Fiscal-Structural Plan

Opinion on the Annual Progress Report 2026

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.

Budgetary transparency: contemporary budgeting approaches

This study analyses the evolution of fiscal systems, highlighting the transition from traditional, rigid, incremental and annual models to more strategic approaches focused on performance, outcomes and structural transformation.

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 25 june 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.