Portugal Announces Sovereign Wealth Fund and Fiscal Justice Reform

Portuguese Prime Minister Luís Montenegro has announced his government's intention to establish a sovereign wealth fund and implement significant reforms in fiscal and administrative justice. The conservative leader revealed these plans during the closing of the National Congress of the Social Democratic Party (PSD), which he leads.

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The intention is to have relevant shareholdings in companies strategic for the country's development and resilience, in order to guarantee a savings vehicle for future generations and an instrument to exercise national sovereignty.

Montenegro stated that the government will continue pursuing "new decisions and new strategic and structural transformations," despite facing difficulties in reaching agreements with the opposition. He criticized the far-right Chega party and the Socialist Party (PS) for obstructing the government's reform agenda, citing the recent rejection of a labor reform bill in Parliament.

The proposed sovereign fund, to be managed by the Treasury and Public Debt Management Agency (IGCP), aims to provide the state with a tool for intervention in strategic sectors. "The intention is to have relevant shareholdings in companies strategic for the country's development and resilience, in order to guarantee a savings vehicle for future generations and an instrument to exercise national sovereignty," Montenegro explained. Key sectors targeted for investment include energy, banking, communications, and airport infrastructure management.

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The intention is to have relevant shareholdings in companies strategic for the country's development and resilience, in order to guarantee a savings vehicle for future generations and an instrument to exercise national sovereignty.

In addition to the sovereign fund, the government plans to reform administrative and fiscal justice to expedite judicial procedures involving the state. Montenegro also highlighted a priority to reform rental regulations to increase the housing supply and balance the relationship between landlords and tenants. These measures are part of a broader agenda to drive economic development and national resilience.

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to make companies and citizens not have to face the endless delays that often occur in judicial proceedings with the State.