The “rating” of Portugal remains below investment grade, according to the ratings from Fitch, Moody’s and S & P and DBRS only keeps the notation above “junk”. But Manuel Caldeira Cabral states, quoted by Bloomberg, which can be improvements of the “rating” of Portugal in 2016 and 2017.
The economy minister defended this Tuesday, April 5, the approval State Budget in March was a “symbolic” that “showed the support that the Government has in Parliament allows the approval of a budget with a clear program of consolidation of public finances”. And he said that “the position of the Socialist Party and the Government on the importance of honoring the commitments of the debt and reduce debt are known.”
US offset a drop in exports to Angola and Brazil
Caldeira Cabral admitted the negative effects of the situation of Angolan and Brazilian economy in Portugal. “The impact on the Portuguese economy, the situation in Brazil and Angola is visible. There was a slowdown in exports to countries outside the European Union,” noted the Minister of Economy.
But said that there are some geographical areas to compensate for these breaks. “The growth in exports to the US pays almost all that impact,” he said.
Concern about Brexit
One of the concerns expressed by Caldeira Cabral was on a possible exit from the United Kingdom of the European Union. “Portugal and the United Kingdom in the European Union. We see this as something strategic presence,” he said. The minister believes that as the United Kingdom, Portugal is an Atlantic country and that “the output of the United Kingdom would change the center of gravity of the European Union into the European continent.”
“We must look concern for the problem of Brexit “concluded Cabral Caldeira.
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