The President of the Republic, António José Seguro, congratulated himself on the decision by financial rating agency Fitch to upgrade Portugal's rating from "A" to "A+" with stable outlook. Seguro considered the decision "excellent news for the country" and "an important external recognition of Portugal's performance", the result of medium and long-term evolution sustained by the effort of the Portuguese people and by an orientation of responsibility maintained across different governments.
The President warned that the credibility gained must be "preserved with responsibility" and "put at the service of a more productive economy, better wages, strong public services, and a fairer and more cohesive society". Seguro also advocated that the improvement in the rating should benefit the financing conditions of the State, businesses, and families, supporting investment and job creation.
The Minister of Finance, Miranda Sarmento, classified the rating upgrade as "another great victory for Portugal", noting that this improvement occurs in a geopolitical and economic context still marked by uncertainty and instability. The Ministry of Finance highlighted that this is already the fourth rating revision the country has recorded in the past two years, considering the upgrades promoted by S&P.
With this update, Portugal now has a rating equal to that of France, Belgium, Estonia, Lithuania, Slovenia, and Malta, with only six countries in the Eurozone currently having a higher classification. The Government guaranteed it is committed to maintaining the course of budgetary balance and public debt reduction, simultaneously adopting reforms and measures that increase the productivity and competitiveness of the Portuguese economy.
