Fitch ratings agency gives Portugal thumbs-up

Fitch ratings agency is definitely more optimistic about Portugal’s chances for economic growth than the IMF (see page 2), but still it sounded the warning this week that we are a country that is “highly indebted”.

Spokesperson Michele Napolitano explained Portugal’s rating had not been altered last year – despite growth – “due to budgetary execution and the BES crisis”.

To win a better rating, Portugal’s public debt has to continue dropping, she said.