Portugal

portugal economia

S&P confirms France’s rating at AA-/A-1 due to uncertain fiscal strategy, raises Portugal’s to A from A- due to current account surpluses

Bankinter | S&P confirms the AA-/A-1 rating of France, but downgrades the Outlook from Stable to Negative. It cites a weakening of public finances. The Budget for 2025 has been approved and proposes a reduction of the deficit of 0.4% of GDP, but the fiscal strategy from 2025 is uncertain. In addition, S&P forecasts GDP growth of <1% in 2025, making the goal of fiscal consolidation even more difficult. In…


DISA

Disa buys Q8 network in Portugal and becomes third largest oil company in country

The DISA Group has completed the purchase of 55 service stations from the Q8 network (owned by Kuwait Petroleum) in Portugal, thus expanding its presence in the Portuguese market where it becomes the third operator by number of service stations (312) with a market share exceeding 11%. The leader is the Portuguese company Galp, with 30%, followed by Repsol with 17%. The operation was finalized on January 31 and integrates…


Portuguese real estate has recovered remarkablyrecovery.

European ratings: Moody’s maintains Portugal’s outlook at A3 stable and Fitch and S&P maintain Ireland’s at AA

Bankinter | Moody’s maintains Portugal’s rating and outlook at A3 “Stable”. For our analysts this is good news for the Portuguese economy. “The financial rating agency considers that this rating is a reflection of a competitive and diversified economy”. Moody’s forecasts GDP growth of +1.6% in 2024 and +2.2% in 2025. However, it continues to point to challenges such as the high public debt ratio, although it acknowledges that it…


portugal espana

Fitch maintains Spain’s rating at A- and outlook “Stable”, while Moody’s keeps Portugal’s rating and outlook at A3 “Stable”

Bankinter | Fitch maintains Spain’s rating at A- and the outlook “Stable”, given the resilience of the economy and the improvement in the labour market. Fitch estimates GDP growth of 2.1% and 2.0% for 2024 and 2025 respectively. Moreover, the credit rating agency points to the need to address the high structural unemployment rate. No surprises for our analysts: “Fitch maintains its credit rating one notch below S&P’s equivalent at…


Montenegro 1

José Montenegro’s right-wing alliance wins Portugal elections

José Alves (Capital Madrid) | The alliance of parties formed around the Democratic Alliance (AD), José Montenegro’s party, has won the elections held in Portugal this Sunday. He will not, however, be able to form a government unless he accepts the offer of the former ruling Chega party to support him, which does not seem likely if he fulfils his election promise. It will be the President of the Republic,…


antonio costa Portugal PM

Portuguese Prime Minister António Costa resigns over corruption scandal

Portugal’s Prime Minister António Costa has resigned after being implicated in a corruption scandal. On Tuesday morning the Portuguese Public Prosecutor’s Office announced that it was launching an investigation against him for possible prevarication, active and passive corruption, and influence peddling in lithium and hydrogen deals. Costa has acknowledged that he has not committed any crime, but has decided to put an end to eight years of a government that…


Portugal

Sacyr, FCC, Ferrovial and ACS to bid for Portugal’s €3-billion HSR

Spanish construction companies have set their sights on the biggest infrastructure project to be tendered this year in the Iberian Peninsula: the high-speed railway line that will connect Lisbon with Oporto. According to the newspaper El Economista, ACS, Ferrovial, Sacyr, FCC, OHLA and Acciona are outlining the consortiums to bid for the first tenders of the infrastructure, whose development has been structured in three phases to be completed in 2030…


Portugal

Portugal, mixed signals at the end to the year

Caixabank Research | The strength of economic activity in Q3 is confirmed, but there are growing signs of a slowdown. It has been confirmed that in Q3 2022 GDP grew by 4.9%, with positive contributions from both domestic and foreign demand of2.9 and 2.0 pps, respectively. In the short term, we expect to see a slowdown in economic activity, especially over the winter months, due to the impact of the…


antonio costa Portugal PM

Portugal: In Q1 2022, GDP Exceeded Its Pre-COVID Level By 1.2%

Caixabank Research | Surprisingly, GDP grew by 2.6% quarter-on-quarter and by 11.9% year-on-year thanks to the strength of private consumption and the recovery in tourism. This result suggests that our current forecast for GDP growth for the year as a whole (4.2%) may prove to be too conservative. However, given the risk of a deterioration due to the impact of the conflict in Ukraine and the cooling of demand from…


Antonio Costa Pedro Sanchez

Portuguese Far Left Throws Away Leverage

Nick Ottens (Atlantic Sentinel) | António Costa no longer needs them for a majority. Portugal’s far left put purity before power and lost power. Until 2015, neither the Communists nor Left Bloc had ever been in government. That year, the Socialists fell short of a majority and António Costa made a deal with the smaller parties. In return for policies like free textbooks in schools and a higher minimum wage,…