Standard and Poor’s raises rating by one notch from Portugal to BB + – Boursorama

The leader of the Socialist Party, Antonio Costa (g) and the Social Democratic Prime Minister Pedro Passos Coelho shake hands before an election debate Lisbon, September 17, 2015 (AFP / PATRICIA DE MELO MOREIRA)

The leader of the Socialist Party, Antonio Costa (g) and the Social Democratic Prime Minister Pedro Passos Coelho shake hands before an election debate in Lisbon, September 17, 2015 (AFP / PATRICIA DE MELO MOREIRA)

“We generally expect a political continuity, whatever the result of the parliamentary elections” planned October 4, SP explains in a statement, placing the country one notch of investment grade quality.

“The future government implement policies that continue to support economic growth and fiscal consolidation “said the agency, which matched its rating a stable outlook.

SP highlights” the strong economic recovery of Portugal, supported by a gradual improvement in the situation on the labor market “.

” The reduction of the budget deficit helped curb the increase in public debt, however, remains very high, at around 124% of GDP in 2015 according to our estimates, “the statement said.

“The important leverage private and public sectors could hinder growth,” said the rating agency that assesses for now at 1.8% per year on average between 2015 and 2017 .

“The economic recovery in Portugal, driven initially by exports, is now also supported by domestic demand,” further notes SP.

The agency also mentions a “strong political consensus and the absence of new populist parties, which could threaten the traditionally pro-European orientation of Portuguese parties.”

The Socialist Party, the largest opposition party and the main rival The current center-right majority, proposes to turn the page austerity without jeopardizing the commitments vis-à-vis countries of its creditors.

Copyright © 2015 AFP. All rights of reproduction and distribution reserved.

All information displayed on this section (dispatches, photographs, logos) is protected by intellectual property rights owned by AFP. Therefore, none of this information may be reproduced, modified, transmitted, redistributed, translated, sold, exploited commercially or used in any way whatsoever without the prior written consent of AFP. AFP shall not be held liable for delays, errors, omissions, which may not be excluded or the consequences of the actions or transactions made on the basis of this information.