The President of the Republic, António José Seguro, classified as "excellent news" the decision by the Fitch financial rating agency to raise Portugal's rating from "A" to "A+" with a stable outlook. In a note published on the Presidency's website, Seguro stated that this decision confirms the importance of stability, predictability and responsibility in the country's management.
The Fitch agency indicated that the rating upgrade reflects the strengthening of Portugal's public finances, including a projected trajectory of public debt reduction and stronger budget balances than those of peer countries. The agency also highlighted that Portugal's institutional strengths are underpinned by its integration into the European Union and the eurozone, although it noted that the still elevated levels of accumulated public and external debt offset these strengths.
The Ministry of Finance also reacted positively to the news, through a statement in which it affirmed that the rating improvement places Portugal at the level of France and Belgium, demonstrating the confidence of international investors. The Minister of Finance, Joaquim Miranda Sarmento, considered the upgrade as "another great victory for Portugal", particularly in a geopolitical and economic context marked by uncertainty and instability.
The President of the Republic highlighted that the strengthening of the country's financial credibility helps mitigate the effects of more demanding international financing conditions, benefiting families and companies that fear an increase in interest rates. Seguro defended that the credibility gained must be preserved and put at the service of a more productive economy, better wages and strong public services.
