The Ministry of Education defines educational policies, coordinates their implementation and, as its main financer, ensures the smooth running of the educational system. Other ministries, the Autonomous Regions and municipalities also contribute towards funding.
The Ministry of Science, Technology and Higher Education is responsible for the higher education policies and funding.
The Ministry of Education finances its central and regional departments, as well as public education institutions, from the state budget.
It also subsidises private and cooperative basic and upper secondary education, according to the terms stipulated in the Private and Cooperative Education Statute.
These were the education budgets for 2022:
Pre-school, Basic and Upper Secondary Education
| Areas of expenditure | Running Costs | Investment | Total |
| 1.Pre-school, Basic and Upper Secondary Education | € 5 554 225 778 | € 452 035 412 | € 6 006 261 190 |
| 2.Inclusive Education | € 311 804 613 | € 311 804 613 | |
| 3.Youth education and training | € 510 087 789 | € 510 087 789 | |
| 4.Adult education and training | € 63 094 051 | € 2 538 286 | € 65 632 337 |
| 5. School social action | € 250 888 773 | € 250 888 773 | |
| 6.Educational supplements | € 22 057 956 | € 22 057 956 | |
| 7.Young people and sport (a) | - | - | - |
| 8.Overseen administration and services | € 87 218 978 | € 249 727 | € 87 468 705 |
| Total | € 6 799 377 938 | € 454 823 425 | € 7 254 201 363 |
Source: 2022 Budget, Institute for Financial Management of Education (Instituto de Gestão Financeira da Educação - IGeFE). (a) Em 2022 deixam de fazer parte da Orgânica do ME as Entidades do Desporto e Juventude (Gabinete do Secretário de Estado do Desporto e Juventude, Instituto Português do Desporto e da Juventude, Autoridade para a Prevenção e Combate à Violência no Desporto, Autoridade Antidopagem de Portugal, Agência Nacional para a Gestão do Programa Erasmus+ Juventude em Ação e a Fundação do Desporto), bem como as atividades e medidas a elas associadas.
Science, Technology and Higher Education, Budget 2022
| Areas of expenditure | Running Costs | Project Costs | Total |
| 1. Science | € 58 945 281 | € 554 919 914 | € 613 865 195 |
| 2. Higher Education | € 2 122 908 433 | € 65 196 761 | € 2 188 105 193 |
| 3. Social action | € 231 125 463 | - | € 231 125 463 |
| 4. Support services | € 5 555 160 | - | € 5 555 160 |
| Total | € 2 418 534 337 | € 620 116 674 | € 3 038 651 011 |
Source: Instituto de Gestão Financeira da Educação - IGeFE, CG - 2022
N.B.: The expenditure on "social assistance" includes the amounts established in the respective budget.
The European Commission has also funded education in Portugal through the European Regional Development Fund (ERDF) and the European Social Fund (ESF).
Madeira and Azores receive transfers from the Government's budget to finance education in the respective regions, with the exception of higher education.
In 2022, due to rising inflation and the cost of living crisis, the 23rd Constitutional Government provided families with extraordinary financial support for those with income and those receiving social benefit for families (EUR 125 per parent or guardian), young people and children (50 euros), launched as part of the Famílias Primeiro ("Families First") programme. Later, other extraordinary support (EUR 240) was allocated to families receiving minimum benefits or beneficiaries of the social electricity tariff.