经合组织经济调查：葡萄牙2026

January 2026Volume 2026/1 OECD Economic Surveys:Portugal2026 This work was approved and declassified by the Economic Development and Review Committee on 08/09/2025. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use ofsuch data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements inthe West Bank under the terms of international law. Note by the Republic of Türkiye The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no singleauthority representing both Turkish and Greek Cypriot people on the Island. Türkiye recognises the Turkish Republic ofNorthern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Türkiyeshall preserve its position concerning the “Cyprus issue”. Note by all the European Union Member States of the OECD and the European UnionThe Republic of Cyprus is recognised by all members of the United Nations with the exception of Türkiye. Theinformation in this document relates to the area under the effective control of the Government of the Republic of Cyprus. Please cite this publication as: OECD (2026),OECD Economic Surveys: Portugal 2026, OECD Publishing, Paris, https://doi.org/10.1787/025b3445-en. ISBN 978-92-64-96532-4 (print)ISBN 978-92-64-75847-6 (PDF)ISBN 978-92-64-45176-6 (HTML) OECD Economic SurveysISSN 0376-6438 (print)ISSN 1609-7513 (online) OECD Economic Surveys: PortugalISSN 1995-3348 (print)ISSN 1999-0405 (online) Photo credits:Cover © joyfull/Shutterstock.com, Chapter 1: 4kclips/Shutterstock.com, Chapter 2: Minerva Studio/Shutterstock.com, Chapter 3: ikumaru/Shutterstock.com, Chapter 4: Kirill Neiezhmakov/Shutterstock.com. Corrigenda to OECD publications may be found at: https://www.oecd.org/en/publications/support/corrigenda.html.© OECD 2026 Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/). Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of the original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. This Economic Survey was prepared by Antoine Goujard and Timo Leidecker, under the supervision of AidaCaldera Sánchez. Research assistance wasprovided by Michela Gamba, administrative and editorial assistanceby Rosario Hernando Cruz and communication assistance by Laura Fortin and François Iglesias. This Survey is published under the responsibility of the Secretary-General of the OECD based on the discussionof the Economic and Development Review Committee of the OECD on 8 September 2025. The cut-off date fordata used in the Survey is 12 December 2025. Information about this and previous Surveys and more information about how Surveys are prepared isavailable athttps://www.oecd.org/en/topics/economic-surveys.html. Table of contents 3 Foreword Basic statistics of Portugal, 2024 Executivesummary The economy remains resilient but structural challenges weigh on future growth10Growth is set to stabilise, but risks remain elevated10Fiscal prudence and productivity-enhancing reforms are needed to safeguard public finances11Strengthening training and activation to address population ageing and skill shortages13Tackling Portugal’s housing affordability challenge will require a comprehensive reform package14Addressing climate change requires significant investment in adaptation and mitigation15 1Strengthening fiscal policy and long-term growth19 1.1.Safeguarding gro