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Country risk, from the local press

Portugal · Country watch

Wildfire Risk Rises, Savings Surge

Portugal faces extreme wildfire risk as savings in state bonds hit a record high.

· · 9 sources

The picture Mixed

Conditions for business in Portugal are mixed today. Wildfire risks pose challenges for agriculture and tourism, while record savings bond investments indicate financial stability. Air travel shows signs of recovery.

In this briefing Portuguese Institute for Sea and Atmosphere · Banco de Portugal · Eurostat

Regulation

Nothing significant reported today.

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

  • public-sector
  • agriculture
  • tourism

Portugal faces extreme wildfire risk in 10 districts

A fire hydrant sitting in the middle of a forest
engin akyurt / Unsplash

More than 60 municipalities across 10 districts in mainland Portugal are under maximum wildfire risk today, according to the Portuguese Institute for Sea and Atmosphere (IPMA). The elevated risk coincides with persistently high temperatures across most of the country. The IPMA uses a five-level system to assess wildfire risk, with 'maximum' being the highest level. The ongoing heatwave has increased the likelihood of rural fires, prompting authorities to remain on high alert.

Impact Tourism operators and agricultural businesses face heightened risk from potential wildfires.

Sources: RTP ↗, Observador ↗

Companies

Nothing significant reported today.

Markets

  • finance

Record investment in Portuguese savings bonds

Investment in Portuguese savings bonds reached a new high in August, with a 15.7% year-on-year increase, according to data from the Banco de Portugal. The total amount invested in these bonds stood at €44.604 billion by the end of August. This marks the 23rd consecutive month of growth, driven by higher Euribor rates attracting savers. The trend suggests a growing preference for secure investments amid economic uncertainties.

Impact Savers and financial institutions see increased interest in state-backed savings bonds.

Sources: RTP ↗, Observador ↗

Trade

  • logistics
  • tourism

Commercial flights in Portugal rise 1.7% in August

Portugal experienced a 1.7% increase in commercial flights in August, according to Eurostat data reported by Diário de Notícias Madeira. This growth is below the EU average increase of 2.3% for the same period. Nineteen EU countries saw an increase in flights, while eight experienced a decrease. The data reflects a gradual recovery in air travel across the region.

Impact Airlines and airport operators in Portugal experience a slight increase in flight activity.

Sources: Diário de Notícias Madeira (dnoticias.pt) ↗, Jornal Económico ↗

Politics

Nothing significant reported today.

Also today in Portugal

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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