Portugal Tightens Public Finance Council Appointments with Parliamentary Hearings

The Portuguese government has proposed amendments to the statutes of the Conselho das Finanças Públicas (CFP) to increase transparency and independence in the appointment of its senior members. Under the draft law, the Council of Ministers will continue to nominate members based on a joint proposal from the President of the Tribunal de Contas and the Governor of the Banco de Portugal, but each nominee must now undergo a mandatory hearing before the Comissão de Orçamento, Finanças e Administração Pública (COFAP) and receive a reasoned opinion from the parliamentary commission.

The revised rules also require the newly appointed members to take their oath before the President of the Republic rather than the President of the Assembly, and they mandate the inclusion of two non‑national members, preferably from other EU Member States. Incompatibility provisions are extended, barring candidates who have held political or public‑sector posts within the past three years. The government says the changes will reinforce the CFP’s independence, transparency and access to information, aligning the body with broader European public‑finance governance reforms.