Portugal’s Prime Minister Luis Montenegro confirms the preparedness of the country to contribute to the European funds. File
| Photo Credit: Reuters
“Portugal is preparing to stop relying on European Union (EU) funds in the next long-term budget cycle and become a net contributor, confident it can compete for project funding on merit,” Prime Minister Luis Montenegro said.
“We are mobilising Portugal to be prepared, not to stand with an outstretched hand asking, but to present credible, ambitious, strong projects that can be selected on the basis of their merit,” he said at a conference late on Tuesday (May 12, 2026).
Portugal has received around €180 billion ($211 billion) in EU funds since joining in 1986, in constant 2021 prices, while contributing about 50 billion euros, according to Bank of Portugal data.
Mr. Montenegro said the EU’s next budget cycle would bring a more competitive funding system, with projects judged on merit and their ability to scale companies globally. “This is not a process we should fear, but one we should take part in,” Mr. Montenegro said.
He said Portugal supported EU cohesion policy, warning the bloc weakened without support for less developed economies, hurting both laggards and their economic partners.
The government forecasts a balanced budget this year, following a surplus of 0.3% of gross domestic product in 2025, marking Portugal’s fourth consecutive year in the black. ($1 = €0.8523)
Published – May 13, 2026 02:37 pm IST
