Prior to the COVID-19 outbreak and subsequent series of stringent lock- downs, Portugal’s resilient and fast-growing economy had been perform- ing exceptionally well. This success was illustrated by the first government surplus in more than four decades and the record amount of foreign direct investment (FDI) that had flowed into scores of major projects, especially in the lucrative real estate and tourism sectors.

With the financial and social shockwaves triggered by the pandemic continuing to reverberate across the majority of leading economies, Portugal has—like many other countries—allocated significant sums of money on initiatives to protect people’s livelihoods via job retention programs.