葡萄牙：技术援助报告公共投资管理评估（PIMA）和气候PIMA（C-PIMA）

PORTUGAL Public Investment Management Assessment(PIMA)and Climate PIMA(C-PIMA)APRIL2026 Prepared ByEd Hearne, Ian Hawksworth, Yasemin Hurcan, Sylke Von Thadden-Kostopoulos,EduardoAldunate,and Hana Huzjak The contents of thisreport constitute technical advice provided by the staff of the International MonetaryFund (IMF) to the authorities ofPortugal(the "TA recipient") in response to their request for technicalassistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMFExecutive Directors and members of their staff, as well as to other agencies or instrumentalities of the TArecipient, and upon their request, to World Bank staff and other technical assistance providers and donorswith legitimate interest, unless the TA recipient specifically objects to such disclosure (see OperationalGuidelines for the Dissemination of Technical Assistance Information— http://www.IMF.org/external/np/pp/eng/2013/061013.pdf). Disclosure of this report (in whole or in part) orsummaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient,World Bank staff, other technical assistance providers and donors with legitimate interest shall require theexplicit consent of the TA recipient and the IMF’s Fiscal Affairs Department. Contents Abbreviations and Acronyms___________________________________________________________6Preface____________________________________________________________________________7Executive Summary__________________________________________________________________8Recommendations__________________________________________________________________13 I. Public Investment in Portugal________________________________________________________14 A. Trends in Public Investment and Capital Stock__________________________________________14B. The Medium-Term Outlook for Public Investment________________________________________16 II. The Efficiency of Public Investment___________________________________________________18 A. Sectoral Infrastructure Performance___________________________________________________18B. Overall infrastructure Quality and Efficiency_____________________________________________21 A. The 2018 PIMA Framework_________________________________________________________24B. Overall Assessment_______________________________________________________________25C. Investment Planning_______________________________________________________________27 IV. The Climate PIMA________________________________________________________________53 A. Climate Change and Public Infrastructure______________________________________________53B. Climate Change Objectives and Strategies_____________________________________________56C. Climate PIMA Framework___________________________________________________________58D. Detailed Assessment______________________________________________________________59 A. Legal and Regulatory Framework____________________________________________________69B. Information Systems and Technology_________________________________________________69C. Capacity________________________________________________________________________70 Annexes 1. PIMA and C-PIMA Action Plan_______________________________________________________732. PIMA Questionnaire_______________________________________________________________793. C-PIMA Questionnaire_____________________________________________________________874. Detailed PIMA Scores______________________________________________________________915.Portugal’s Climate and Environmental Policies and Measures______________________________926.Laws and Regulations Governing Public Investment in Portugal_____________________________94 Boxes 1.HowVolatility in Investment Spending Undermines Efficiency_______________________________142.Construction Sector Capacity Constraints______________________________________________17 4. Potential Changes in Approach for Future PPPs in Portugal________________________________35 5. Infraestruturas de PortugalMaintenancePlanning________________________________________40 6. Major Project Assurance-European Examples__________________________________________42 8. Budget Execution and Expenditure Controls____________________________________________48 10.Ireland’s Experience with Climate Screening___________________________________________63 11. Maintenance of Climate-Exposed Energy Infrastructure in Portugal_________________________66 12: Good Practice from a Costa Rica____________________________________________________67 13. International Best Practices in Training and Management of Large Investment Programs________72 Figures 2. Portugal C-PIMA: Institutional Design__________________________________________________10 3. Public Investment in Portugal andComparators(Nominal in percent of GDP)__________________14 4. Portugal: Public Investment andCapital Stock(Nominal in percent of GDP)___________________15 5. Public Capital Stock per Capita:Compa