FRANKFURT (Dow Jones)–The rating agency S&P Global Ratings has increased the outlook for Portugal to positive from previously stable. The rating remains BBB+. Despite external headwinds, the Portuguese economy will record an average GDP growth of 2 percent in the period 2024 to 2026. The country has a resilient service sector and is experiencing large inflows of EU funds. The government’s fiscal policy will reduce net debt to GDP from 99 percent in 2023 to an expected 87 percent at the end of 2026 – one of the sharpest declines in Europe.
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(END) Dow Jones Newswires
September 08, 2023 4:31 p.m. ET (20:31 GMT)