Bankinter: S&P maintains Portugal’s debt rating and revises the outlook upward. The rating is BBB+ (Positive).
Assessment: After the positive review of the rating in September 2023, the US agency revises upwards the outlook for Portugal’s debt. The report highlights two key factors: (1) Expected growth for the Portuguese economy higher than that of neighbouring countries (+2% average between 2024/2026); and (2) positive impact of budgetary policies on public debt, which is expected to be below GDP already this year (public debt/GDP: 99% in 2023e and 87% in 2026e).
