5 things that will mark the day

This Tuesday, the Assembly of the Republic will begin to debate the programme of the 25th Constitutional Government, the second of the PSD/CDS executive led by Luís Montenegro. The Public Finance Council will release the budgetary evolution of the Public Administrations in 2024. Also marking the day are the decision of the Central Bank of Japan on interest rates, the data on German economic sentiment and the continuation of the trial of the BES/GES case.

Debate of the Government's program in Parliament

The two-day debate on the programme of the 25th Constitutional Government, the second of the PSD/CDS executive led by Luís Montenegro, begins this morning in the Assembly of the Republic. The PCP has already announced that it will present a motion of rejection, but the communists' initiative is certain to fail, since, in addition to the PSD and CDS, it will also not have the support of Chega and the PS . The second government led by Prime Minister Luís Montenegro will have 16 ministries, one less than the previous one, and will maintain thirteen of the 17 ministers of the outgoing executive.

CFP releases budgetary evolution of Public Administrations

The Public Finance Council will release the budgetary evolution of the Public Administrations in 2024. In the previous year, inflation helped to explain “more than half of the reduction in the debt ratio ”. Public debt stood at 99.1% of GDP last year, a figure that may still be revised downwards.

Bank of Japan decides on interest rates

The Bank of Japan is holding its monetary policy meeting on Tuesday to decide on interest rates. In May, the Bank of Japan halved its forecast for the country's economic growth in fiscal 2025 due to the impact of the trade war launched by the United States. In its quarterly report on the economic outlook, the bank reduced its expectations for the expansion of Japan's gross domestic product (GDP) to 0.5%, compared to the previous estimate, published in January, which predicted growth of 1.1%.

What is the economic sentiment in Germany?

The ZEW Economic Sentiment Index will release June data on the German economy, considered the driving force of Europe. In May, German investor confidence rose more than expected, recovering from a sharp drop in the previous month. The economic sentiment index rose to 25.2 points from -14.0 points in April.

BES/GES trial continues

The BES trial will continue on Tuesday at the Campus de Justiça. The former chairman of BES, Ricardo Salgado, is the main defendant and is being charged with 62 crimes, allegedly committed between 2009 and 2014. The crimes charged include one count of criminal association, 12 counts of active corruption in the private sector, 29 counts of qualified fraud, five counts of infidelity, one count of market manipulation, seven counts of money laundering and seven counts of document forgery. According to the Public Prosecutor's Office, the collapse of GES caused losses of over 11.8 billion euros.