Considering the specific scenario of the Portuguese framework, it seems interesting to perform a research focused in this context. In fact, the Portuguese economic crisis after 2010/2011 created serious socioeconomic difficulties to the country, but in the recent years, the situation performed significant improvements. This new shock brought to the Portuguese society, again, new challenges and the need of new supports for the policies design by the public institutions and government. In this way, the objective of this research is to assess the Portuguese economic dynamics and, from here, discuss potential impacts from the COVID-19 frameworks, considering data disaggregated at regional and municipal level. For that, it considered the developments from the new economic geography, namely those related with the agglomeration processes and circular and cumulative phenomena. As main conclusions, with the social confinement, a greater economic impact around the Lisbon municipalities than in the north is expected.