Portugal says efforts to balance budget, cut debt constrained by storm damage

Portuguese Minister of State and of Finance Joaquim Miranda Sarmento takes part in the Eurozone finance ministers' meeting in Brussels, Belgium, November 12, 2025. REUTERS/Yves Herman

LISBON/BRUSSELS, Feb 16 (Reuters) - Portugal ⁠will do all it can to keep the budget balanced and ⁠reduce public debt, but its efforts are likely to be ‌constrained by the economic impact of devastating storms, Finance Minister Joaquim Miranda Sarmento said on Monday.

Estimating the damage to homes, factories and infrastructure from the storms will take ​some weeks, Miranda Sarmento told reporters as he ⁠arrived at a Eurogroup ⁠meeting in Brussels.