What is the S&P Global rating of Portugal in 2026?
- Portugal Business News - Valerie Charoux
- 2 days ago
- 2 min read
News Economy Europe - Here is Portugal´s S&P Global rating and economic outlook in 2026, as well as Portugal´s economic indicators for 2026 and 2027, according to an announcement dated August 28th, 2026.
Here is the S&P Global rating of Portugal in 2026:
Portugal Sovereign Credit Rating - A+/Positive/A-1
Portugal Transfer & Convertibility Assessment - AAA
What is Portugal´s economic outlook according to S&P Global?
Portugal´s Outlook remains Positive due to Resilient Economic Growth, according to Standard & Poor's (S&P) rating.
The positive outlook reflects S&P´s view that Portugal's economic growth will continue to support increasing wealth levels, notwithstanding current volatility. At the same time, it reflects their view that prudent policymaking, in spite of political fragmentation, will allow the sovereign country to absorb potential fiscal pressures, such as demographic shifts and Defence requirements, without undermining the ongoing reduction in net general government debt.
¨We could raise the ratings on Portugal if we see further strengthening of its GDP per capita, supported by resilient economic growth and sound fiscal policies without reversing the decline in net government debt or increasing interest payments.¨ - S&P Global.
S&P Global Ratings expects Portugal's economic growth to remain resilient throughout 2026, with GDP growth projected at 1.7%, and then remain at similar levels beyond 2027. Concurrently, net general government debt continues its downward trajectory, while resilient economic growth and prudent policies remain in place despite external headwinds.
What is Portugal´s fiscal position?
Portugal's budgetary position remains strong, according to S&P Global. In 2025, Portugal achieved a budget surplus of 0.7% of GDP, doubling its 0.3% target, thanks to buoyant tax receipts, fueled by a resilient labor market and strong wage growth, alongside steady social security contributions and EU fund inflows.
Portugal is reducing its net government debt at one of the fastest paces in the eurozone:
According to S&P Global forecasts, Portugal´s net debt is projected to decline to 75% of GDP by 2029 from 85% in 2025 - a trajectory comparable with those of Greece and Cyprus, albeit starting from higher initial levels.
