AGP Executive Report

Cost of Living: Thousands protested in Lisbon, Porto and other cities over soaring housing costs, living expenses and wages that no longer cover basic needs. Ronaldo Fallout: Portugal has provisionally suspended Cristiano Ronaldo after he left the national team camp, opening disciplinary proceedings that could bring a ban of up to six months. Federation president Pedro Proença says the team wants its captain back for November, but the case remains open. Economic Outlook: The Bank of Portugal raised its 2026 growth forecast to 2.3%, while the government prepares its 2027 budget. Defence: Portugal is reconsidering a $5 billion F-16 replacement plan, weighing US F-35s against European alternatives.

Ronaldo Disciplinary Row: Portugal’s football federation has provisionally suspended captain Cristiano Ronaldo and opened an urgent probe after he left the national camp without permission. He faces a possible one-to-six-month ban, but FPF president Pedro Proença says the federation, coach and players want him back and expects a return in November. Ronaldo has apologised and says he will accept punishment; he scored his 980th career goal for Al-Nassr on his return to club action. Liga Portugal: Porto came from behind to beat Marítimo 2-1 in Madeira, keeping their perfect league start intact with an 18-year-old Oskar Pietuszewski’s late winner. Cycling Safety: Riders delayed the Tour of Lombardy start in protest over unsafe racing, recalling the death of 19-year-old Finlay Tarling at the Volta a Portugal in August. Economic Outlook: The Bank of Portugal has raised its 2026 growth forecast to 2.3%.

Ronaldo Disciplinary Case: Portugal’s football federation has provisionally suspended Cristiano Ronaldo and opened an urgent investigation after he walked out of the national-team camp over a dispute with coach Jorge Jesus. The final penalty is pending; Ronaldo has apologised and says he remains available for Portugal. He scored his 980th career goal for Al-Nassr on Friday. Mental Health: President António José Seguro called for better access to care, saying more than one in five people in Portugal experience a psychiatric disorder. Azores Air Base: Prime Minister Luís Montenegro insists US use of Lajes Air Base complies with Portuguese law, as prosecutors investigate a complaint over its use during the Iran conflict. Rui Pinto: Portugal has restored witness protection for the Football Leaks whistleblower while authorities reconsider the decision to end it. Economic Outlook: The Bank of Portugal has raised its 2026 growth forecast to 2.3%. Women’s Football: Portugal beat Northern Ireland 4-0 in the first leg of their Women’s World Cup qualifying play-off.

Defence Debate: Portugal is reconsidering US F-35 jets to replace its ageing F-16s, while keeping European alternatives in play. Prime Minister Luís Montenegro has also warned the judiciary not to politicise US use of a Portuguese air base. Women’s Football: Portugal beat Northern Ireland 4-0 in the first leg of their World Cup playoff, putting themselves within reach of the next qualifying round. Justice: Authorities reversed plans to remove Football Leaks founder Rui Pinto from witness protection after finding he had not been properly notified or given a chance to challenge the decision. Economy: Portugal’s trade deficit narrowed in August, as business leaders debated how to build on growth and the Bank of Portugal chief urged the country to prepare for external shocks. Porto’s Ocean Links: The Ocean Race will move its headquarters to Porto, which is set to host starts for the 2030, 2034 and 2038 editions and develop a public ocean-racing and education hub.

Lajes Base: Prime Minister Luís Montenegro says US military use of the Azores base during the Iran conflict was lawful and urged judges to avoid political judgments as prosecutors investigate the government’s approval. Economic Outlook: The Bank of Portugal’s chief warned the country to prepare for external shocks as lawmakers debated a tightly constrained 2027 budget. Investment: A new Portugal Investment Forum drew more than 300 investors and business leaders to discuss how to turn a decade of growth into lasting prosperity, with speakers stressing the need for clear, predictable rules. Fighter Fleet: Portugal is considering the US F-35 alongside the Eurofighter, Rafale and Gripen E to replace its F-16s. A 27–28 jet purchase could cost €5 billion, but no competition has begun. Agri-Tech: University of Porto researchers have created a dataset to help train robots to identify vines and map vineyard rows, supporting automated pruning.

US–Portugal Ties: Marco Rubio’s Lisbon visit brought a fresh push for closer defence and business links. Washington offered a “very competitive” deal for F-35s to replace Portugal’s ageing F-16s, while Lisbon said it is considering the proposal alongside other options. Rubio also called Portugal an ideal gateway for US tech firms entering Europe. Public Finances: Bank of Portugal governor Álvaro Santos Pereira urged the country to prepare for external shocks by keeping debt down. The government’s 2027 budget targets a 0.1% surplus and debt of 84.5% of GDP, as negotiations begin. Energy Costs: Heating oil costs €2.204 a litre in Portugal, among the highest prices in the EU, as households brace for winter. Aviation Business: Nayak Aircraft Services has acquired a controlling stake in Portugal’s LAS Group, adding nearly 100 staff and maintenance operations at five Portuguese airports.

2027 Budget: Portugal’s government has submitted its draft budget, forecasting growth of about 2% and a small surplus. Parliament’s first debate is set for October 27. Defence and Diplomacy: Visiting US Secretary of State Marco Rubio called Portugal a close ally and urged NATO members to boost defence spending. President António José Seguro said Europe should build its own defence technology and coordinate purchases. Banking: Bank of Portugal governor Álvaro Santos Pereira said banks have room to offer savers better returns: new term deposits paid an average 1.59% in July, below the eurozone’s 2.14%. Growth and Climate: The central bank has raised its 2026 growth forecast to 2.3%, while Portugal recorded its hottest September since records began in 1931. Football: Cristiano Ronaldo apologised for leaving Portugal’s camp but said he is not retiring and remains available for selection.

Economic Outlook: The Bank of Portugal has raised its 2026 growth forecast to 2.3%. A separate estimate says Portugal must refinance about €100 billion in debt by 2030, as borrowing costs rise. Tourism and Ports: Setúbal’s new cruise terminal is nearing completion and is expected to welcome its first guests in 2027, supporting the local economy and adding a stop for smaller ships. Industry and Investment: Savannah Resources says talks for a second long-term sales deal for its Barroso lithium project are advanced, with an agreement expected this quarter. Securing the deal would help unlock financing for the planned mine. Extreme Heat: Portugal recorded its hottest September since records began in 1931, with average temperatures 2.9°C above the 1991–2020 norm. Public Finances: The government and Socialist Party have reached a budget compromise, welcomed by the president.

Economic Outlook: The Bank of Portugal raised its 2026 growth forecast to 2.3%, citing EU recovery funds and stronger exports. It expects inflation to reach 3.1% this year before easing. EU Funds Probe: A major European Public Prosecutor’s Office operation in Portugal carried out 250 searches and more than 20 arrests over suspected VAT fraud involving EU funds. Estimated losses exceed €100 million. Budget Deal: President António José Seguro welcomed the Socialists’ signal that they will let the government’s budget pass its first parliamentary vote, though negotiations on specific measures remain. Fuel Costs: Prime Minister Luís Montenegro called for a rethink of oil pricing, arguing that global market speculation raises Portuguese fuel costs even when supplies from Brazil and Algeria are stable. Portugal’s Ronaldo Rift: Cristiano Ronaldo apologised for leaving the national team camp, accused coach Jorge Jesus of breaking promises and said he remains available to play for Portugal. Lithium Project: A British-Portuguese business group will visit Savannah Resources’ Barroso lithium site this month to learn about its plans to supply Europe’s battery industry.

Portugal Football Drama: Cristiano Ronaldo says he won’t retire from international football, but insists he deserves punishment after walking out of Portugal’s Nations League camp, accusing coach Jorge Jesus of breaking promises twice over his playing time; Ronaldo also apologised to teammates and fans and says the door remains open for a return once any suspension ends. Nations League Momentum: Portugal kept rolling without Ronaldo, beating Denmark and then Norway to stay perfect and reach the quarter-finals, with Gonçalo Ramos and Vitinha among the key performers. Azores Aviation Stability: SATA Group is prioritising fleet and financial stability as it moves through the Azores Airlines privatisation process, including a planned phase-out of an Airbus A320ceo. IKEA Second-Hand Push: IKEA launched a second-hand marketplace across Europe (including Spain and Portugal), letting members buy/sell eligible items with average prices about 60% lower than new. Business & Growth: GUTsy Captain opened early access to its Crowdcube equity campaign after selling 70m+ bottles in 38 countries, aiming to expand from kombucha into electrolytes.

Ronaldo–Jesus Fallout: Cristiano Ronaldo says he won’t return to Portugal while Jorge Jesus remains in charge, after the coach insisted “everything is open” and framed the dispute as a misunderstanding; the row is now spilling into public debate and could shape Portugal’s Nations League plans. Nations League Momentum: Jesus celebrates a perfect start—four straight wins and qualification to the quarter-finals—while Portugal’s Ronaldo-less form keeps the focus on squad unity. Data Centres vs Water: Environmental groups in Abrantes warn two new mega data centres could strain the Tejo’s water supply and raise noise and heat-island risks, calling for a combined impact study. Lisbon Budget Politics: Prime Minister Luís Montenegro says rent-law talks are being separated from the State Budget, pushing for a “fair balance” between housing access and supply. Property Tax for Non-Residents: Analysis suggests Portugal’s new flat IMT for non-residents changes little at the top end of Madeira’s luxury market, where the rate was already 7.5%. US–NATO Arctic Tour: Secretary of State Marco Rubio begins a NATO ally tour in Iceland, stressing Arctic security concerns and promising deeper cooperation with Portugal next.

Diplomacy & Security: US Secretary of State Marco Rubio has kicked off a three-nation NATO tour in Iceland, then heads to Greece and Portugal, with Arctic security and economic cooperation on the agenda. Eurozone Markets: Investors are again fixating on Europe’s debt fault lines as France’s bond spreads widen sharply, adding fuel to global bond-market jitters. Ronaldo Saga: Portugal coach Jorge Jesus says Cristiano Ronaldo can return to the national team “if he wants,” leaving the decision with the player after Ronaldo’s walkout during the Nations League camp. Sports & Fitness: Norway coach Ståle Solbakken warns Erling Haaland is “thoroughly spent” after being subbed off against Portugal, raising fresh fitness concerns for Man City. Portugal-Angola Ties: Portugal’s ambassador to Angola highlights deepening economic cooperation and a large Portuguese business presence, while Spain’s outgoing envoy also points to stronger regional links. Business/Trade: A study backs road haulage for Amargosa’s road-to-port export chain in Portugal-linked logistics, supporting haulage rates up to 11.5 Mtpa.

Ronaldo Return Talks: Portugal coach Jorge Jesus and federation chief Pedro Proença say Cristiano Ronaldo can come back to the national team “if he wants,” framing last week’s walkout as a “misunderstanding” after Ronaldo was left on the bench in the Nations League. Nations League Focus: Ronaldo-less Portugal beat Norway 2-1 to reach the quarterfinals, while the wider fallout continues to dominate headlines. Haaland Fitness Worry: Norway coach Ståle Solbakken played down injury fears after Erling Haaland was substituted early, but workload concerns are front and centre ahead of Manchester City’s next matches. US-Portugal Diplomacy: US Secretary of State Marco Rubio is set to visit Iceland, Greece and Portugal, saying the US is monitoring a suspected plague-related incident in Russia “closely” but not treating it as a cause for alarm. Fuel Cost Relief: Portugal approved a €38m support package to help road transport operators, taxis, firefighters and social organisations cope with surging fuel prices.

UEFA Nations League: Portugal kept their perfect start going with a 2-1 comeback win over Norway, booking the quarter-finals as Gonçalo Ramos scored the late winner after Kristoffer Ajer put the visitors ahead; João Cancelo levelled with a rocket and Francisco Conceição was sent off late, leaving Portugal to finish with 10 men. Cristiano Ronaldo Saga: Portugal coach Jorge Jesus says Ronaldo can return “if he wants to,” stressing the decision is up to the 41-year-old after his abrupt walkout from camp; Jesus and federation figures frame it as a misunderstanding, with talks possible before November call-ups. Injury Watch: Norway’s Erling Haaland limped off after asking to be substituted in the 67th minute, raising fitness concerns for Manchester City ahead of Liverpool. EU Budget Talks: Spain’s Luis Planas says it’s “worth closing” the MFF agreement in December, as negotiations continue in Brussels over the next EU budget and CAP reforms. US-Portugal Diplomacy: US Secretary of State Marco Rubio is set to visit Lisbon for talks on defense, economic development and technology cooperation, alongside stops in Iceland and Greece.

Portugal Football & National Identity: Bruno Fernandes says Cristiano Ronaldo will “never cease” to be Portugal’s greatest symbol despite his walkout from the camp, urging the country to avoid division as Portugal prepare for Nations League action vs Norway. UEFA Nations League Focus: Portugal host Norway at Estádio do Dragão in Porto with a perfect start under Jorge Jesus, while Norway look to bounce back after defeats. Legal & Foreign Policy: Portugal’s Prosecutor General has opened an inquiry into whether the US use of Lajes Air Base in the Azores during the Iran conflict complied with Portuguese and international law, after a Left Bloc complaint. Fintech & Business: Revolut is reported as Europe’s most valuable startup at $115bn, pushing to become a global bank while still facing hurdles like lower revenue per customer. Sports Market Watch: Benfica are said to be anxious about Premier League interest in Argentine winger Gianluca Prestianni as clubs line up to monitor his progress. Culture & Society: A report highlights “glottophobia” against Brazilian Portuguese in Portugal, with calls for fairer licensing for speech therapists.

Ronaldo Fallout in Portugal: Bruno Fernandes says Cristiano Ronaldo remains Portugal’s “greatest symbol” after the 41-year-old walked out of the national team camp following Jorge Jesus’ decision not to start him, urging the country to stop dividing and insisting there are “no divisions” inside the squad. Nations League Focus: Portugal host Norway in Porto for another UEFA Nations League clash without Ronaldo, with the team aiming to keep a perfect run and secure a quarter-final spot. Politics Steps In: Portuguese media report the Ronaldo–Jesus dispute has drawn political attention, with calls for the federation to push for reconciliation ahead of next week’s talks. Whistleblower Safety Alarm: Football Leaks founder Rui Pinto says witness protection has been withdrawn and he fears for his life after receiving death threats, as legal challenges continue around Manchester City’s alleged financial breaches. Public Services Disruption: Portugal public-sector workers begin a 24-hour strike, with schools, hospitals and other services affected ahead of budget talks.