In the statement, published after the organisation's upward revision of Portugal's rating, the Ministry of Finance said that "this decision is another achievement for Portugal and recognition of the work being done by the government, families, and businesses to promote economic growth, ensure balanced public accounts, and achieve a sustained reduction in public debt."

The Ministry noted that this is "the second upward revision of Portugal's rating in just two weeks," and that "at the end of August, Standard & Poor's (S&P) also upgraded the debt rating from 'A' to 'A+,'" it emphasized.

"Since the rating is crucial to how the country is perceived by foreign investors and to its financing costs, this second upgrade is excellent news for Portugal and the Portuguese people".

The government also stated that Fitch noted that "Portugal is one of the countries that has managed to reduce public debt the most, among those analysed, while maintaining a prudent fiscal policy and robust growth."

It also highlighted that "the country has recorded better fiscal performance than its peers" and that "the reduction in external debt and the outlook for the Portuguese economy, with growth above the eurozone average in 2026 and 2027," are also highlighted positively.

The financial rating agency Fitch upgraded Portugal's rating from A- to A, with a stable outlook, it announced in a statement.

Fitch cited several reasons for upgrading Portugal's rating, including continued debt reduction, a balanced fiscal position, reduced deficits from 2026 onwards, rising exports, and resilient growth.

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