Portugal’s Outlook Raised by Moody’s on Growth Prospects

Moody’s sees economy growing by 2% on average in next 5 years
The Bank of Portugal forecasts GDP growth of 1.8% for 2023

A tram travels along a street in central Lisbon, Portugal. — A tram travels along a street in central Lisbon, Portugal.
Photographer: Zed Jameson/Bloomberg

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By Joao Lima

May 19, 2023 at 10:18 PM UTC

Updated on

May 19, 2023 at 10:25 PM UTC

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Portugal’s government bond rating outlook was raised by Moody’s Investors Service, citing improved medium-term growth prospects.

The outlook was revised to positive from stable, the New York-based credit rating company said in a statement on Friday. Moody’s affirmed the Baa2 rating.