The remarks by Marques Mendes were made following the Prime Minister’s statement in Japan, indicating he had heard that another agency might soon upgrade Portugal’s credit rating. He emphasized that fifteen years after the ‘troika’ intervention, “Portugal is today a financial example in Europe.”
“Portugal has been receiving good news in this area. Recently, a well-known agency, Standard & Poor’s, upgraded Portugal’s rating. If one or two more agencies follow suit, that’s only beneficial. This comes as no surprise to me. Portuguese citizens should take pride in this. Although it may seem bureaucratic to many, it signifies foreign and international investors’ trust in Portugal,” remarked Marques Mendes in response to comments by Luís Montenegro.
In Vila Verde, district of Braga, after visiting the Misericórdia Hospital, the presidential candidate recalled that “ten years ago, this was not the case” as the country “was in a slump.”
“Ten years later, we are flourishing. It might be time to remember that we once had a colossal public debt as a percentage of GDP [Gross Domestic Product]. Today, we have a lower public debt than France and other countries,” Marques Mendes noted.
The presidential candidate believes this situation instills confidence, but he does not forget the path taken to reach this point.
“But at the same time, these achievements came with many sacrifices by the Portuguese. I think the country should take pride in this result. This is not only a victory for any particular government, but a triumph for the country. And that’s positive,” stated the former PSD leader, flanked by Vila Verde’s Mayor, Júlia Rodrigues Fernandes (PSD), and the chairman of the Santa Casa da Misericórdia de Vila Verde, Bento Morais.
The Fitch agency is set to announce its assessment of Portugal’s rating today, which is currently near the highest levels in the classification by major agencies.
DBRS rates the sovereign debt as A (high), Moody’s as A3, while Fitch currently has a rating of A-.
Meanwhile, S&P, the most recent agency to evaluate the rating on August 29, upgraded it from ‘A’ to ‘A+’, just six months after a previous upgrade.
