“We are on the right track. We are on the right track, and that is something I took the opportunity to emphasize to the President [of Germany, Frank-Walter] Steinmeier, because Portugal is receiving international evaluations that are very, very good,” said Marcelo Rebelo de Sousa in statements to journalists after having lunch at a Portuguese restaurant in Berlin, where he is on an official visit.
The President of the Republic was responding to a question about statements from the Prime Minister, Luís Montenegro, who said today that he has news that “within hours” another agency might raise Portugal’s rating, noting that fifteen years after the ‘troika’, “Portugal is now an example in Europe from a financial standpoint.”
Marcelo Rebelo de Sousa considered that these international evaluations are important for Portugal at a time when, “in Europe and in many countries around the world,” the economic situation “is still critical.”
“It is important that, at a macro level – that is, the big numbers of the economy and, above all, the state finances – we have a very, very positive evaluation,” he stated.
The President of the Republic mentioned that on the official visit he is making to Germany, he is accompanied by the Secretary of State for Tourism, Trade, and Services, Pedro Machado, who spoke today about the “investments that are being made and planned” in Portugal, not only by Europeans but also by Americans.
“And in various fields, besides tourism, in a moment of uncertainty, being able to invest in Portugal with the certainty provided by international assessments is very important for everyone,” he argued.
When questioned whether national political stability contributes to reducing the feeling of instability at an international level, Marcelo Rebelo de Sousa replied: “No doubt.”
“This was one of the themes that, naturally, concerns President Steinmeier and concerns me, which is, fortunately, there is political stability in Portugal and Germany. We wish it were so in all states,” he said.
Fitch is set to announce its assessment of Portugal’s rating today, which is currently near the top levels in the major agencies’ rankings.
DBRS rates the sovereign debt at A (high), and Moody’s at A3, while Fitch currently has a rating of A-.
S&P was the last agency to evaluate the rating on August 29, upgrading the classification from ‘A’ to ‘A+’, just six months after another upgrade.
