Portugal will hold an early parliamentary election - its third in just over three years - on May 18, President Marcelo Rebelo de Sousa said on Thursday, two days after the centre-right minority government lost a parliamentary confidence vote.

Prime Minister Luis Montenegro's government entered caretaker status after failing to secure a majority in a parliamentary confidence vote on March 11. Following consultations with major political parties and the Council of State, Rebelo de Sousa decided to move forward with the early election.

Portugal is likely to face its third early parliamentary election in just over three years after the centre-right minority government lost a parliamentary confidence vote. The government stays on in a caretaker capacity following Tuesday's vote,

The government, led by the Social Democrats in an alliance with a smaller party, fell amid a controversy that has revolved around potential conflicts of interest in the business dealings of outgoing Prime Minister Luís Montenegro's family law firm.

Portugal looks likely to go to the polls for the third time in three years, political parties indicated on Wednesday, after Luis Montenegro resigned as prime minister in a conflict of interests row. Portugal's attorney general Amadeu Guerra said on Wednesday that he had received three complaints about the family business of the prime minister.