Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
PORTUGAL
The Portuguese parliament has passed the 2024 budget, fulfilling one of its final actions before PM Antonio Costa resigns ahead of the snap election taking place 10 March 2024. The parliament had approved the budget in an initial vote in October, ahead of Costa announcing his resignation.
- Bloomberg: "The 2024 budget includes income tax cuts and targets a surplus of 0.2% of gross domestic product, smaller than the surplus projected for 2023. While the country’s economy is forecast to slow this year after bouncing back following the pandemic, the government plans to keep lowering the debt burden."
- Opinion polling in November has shown Portugal's two main parties - the centre-left Socialist Party (PS) and the centre-right Social Democratic Party (PSD) - struggling to maintain support amid broad dissatisfaction with the political establishment in the wake of the corruption scandal that claimed Costa's position.
- The right-wing nationalist CHEGA party has seen its support continue to rise, and looks on course to secure a strong third place. Should the PSD find itself short of a majority after the election, it could - despite claiming it would not work with the party - form a governing coalition. This would mark the first time the nationalist right has been included in a Portuguese gov't since the end of the Estado Novo in 1974.
Chart 1. General Election Opinion Polling, % and 5-Poll Moving Average
Source: Aximage, CESOP, Intercampus, ICS, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok