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ANA-MPA - Coast Guard rescues 125 migrants and refugees
The Coast Guard on Friday said it had rescued 125 migrants and refugees in the sea off Alexandroupolis,Lesvos and Kos...
MAP - Suède: Le président du groupe BMCE BOA et son épouse participent à la cérémonie de remise des prix Nobel
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NNA - قطة تؤخر اقلاع طائرة الميدل ايست 50 دقيقة
وطنية - أفادت مندوبة الوكالة الوطنية للاعلام ان فرار قطة من قفصها الذي كان في حوزة مواطنة ايطالية، الى تأخر اقلاع طائرة تابعة لشركة طيران الشرق الاوسط لمدة 50 دقيقة...
MAP - Morocco, Jamaica Set to Strengthen Cooperation
Rabat -December 13,2019-(MAP)-Minister of Tourism, Handicrafts, Air Transport and Social Economy, Nadia Fettah Alaoui, on Wednesday held talks in Rabat...
NNA - Chinese Ambassador honors participants in Chinese training courses
NNA-The Chinese Ambassador to Lebanon, Wang Kejian, held a reception Saturday evening at the Phoenicia Hotel in honor of "Lebanese...
MAP - Les Gnaoua dans la liste du patrimoine immatériel de l'UNESCO : une consécration de l'engagement pionnier d'Essaouira
Essaouira - 13 décembre 2019 - ( MAP ) - "Magnifique consécration pour les Gnaoua de tout le Maroc,...
ANA-MPA - Police investigating death of Romanian man found dead on Mount Athos
Police are investigating the death of a 28-year-old Romanian who was found dead in the yard of the St.Athanassios Cave...
MAP - L'Académie du Royaume braque les projecteurs sur l'Inde sous l'angle de l'histoire et de l'évolution sociétale
Rabat -13 décembre 2019-(MAP)-L'expérience de développement de l'Inde du point de vue de l'histoire et de l'évolution sociétale a focalisé,...
SANA - إدراج الوردة الشامية على لائحة التراث الإنساني في منظمة اليونسكو
بوغوتا - سانا - أعلنت منظمة الأمم المتحدة للتربية والعلم والثقافة “اليونيسكو” إدراج عنصر الوردة الشامية وما يرتبط بها من الممارسات والحرف التراثية ضمن قائمة التراث الإنساني اللامادي في المنظمة....
MAP - La maîtrise de la réalisation cinématographique requiert une bonne connaissance des six autres arts
ES: Yassine Chaoui- Agadir -13 décembre 2019-(MAP)-La maîtrise de la réalisation cinématographique requiert une bonne connaissance des six autres arts,...
ATA - Donors’ Conference, PM Rama: Very much desired news, promises kept fill me up with energy
TIRANA,Dec13/ATA/-The Albania Prime Minister Edi Rama described the European Council’s decision to provide humanitarian assistance and to hold the Donors’...
MAP - Gnawa Added to Representative List of Intangible Cultural Heritage of Humanity
Bogotá - December 13, 2019 - (MAP) -Morocco's Gnawa was inscribed Thursday by the UNESCO Intergovernmental Committee for the Safeguarding...
NNA - انطوان القزي تسلم درع صحافي العام لإنجاز مدى الحياة في اوستراليا
وطنية - منحت رئيسة حكومة نيوساوث ويلز غلاديس بيريجكليان رئيس تحرير جريدة "التلغراف" الأوسترالية الاعلامي أنطوان القزي درع "صحافي العام لإنجاز مدى الحياة"، وهي أرفع جائزة حكومية في الحقل الإعلامي....
MAP - COP25: L'espoir est toujours permis pour sauver la planète malgré les rapports scientifiques alarmants
Madrid -13 décembre 2019- (MAP) - En dépit des rapports alarmants des scientifiques et des chercheurs en matière du climat,...
ANA-MPA - Eteoklis brings rainstorms, snow and very strong winds from Friday night
A new cold front named "Eteoklis" is expected to affect Greece from Friday night, bringing rainstorms,heavy snow at higher altitudes...
MAP - Commemoration of OIC 50th Anniversary: Opportunity to Highlight Centrality of Morocco in Strengthening Joint Islamic Action
Rabat - December 13, 2019 - (MAP) - The commemoration of the 50th anniversary of the establishment of...
NNA - ورشة لبنانية فرنسية عن التراث العمراني في صيدا القديمة
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MAP - Agadir accueille le 1er Colloque national de la Régionalisation avancée, les 20 et 21 décembre
Rabat-13 décembre 2019(MAP)-Le ministère de l'Intérieur et l'Association des Régions du Maroc organisent, les 20 et 21 décembre à Agadir,...
ATA - Tepelena/ Reconstruction of Salari-Dukaj road well underway
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MAP - Abdeljalil Lahjomri reçoit à Paris le Grand Prix de la francophonie de l'Académie française
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Lusa - Business News - Portugal: VAT fraud in car imports-107 luxury cars seized in Aveiro area
Aveiro, Dec.13, 2019 (Lusa) - The Tax and Customs Authority (AT) seized 107 luxury vehicles in three districts of Aveiro,...
Lusa - Business News - Portugal: Stocks close Friday session with PSI20 up 0.15%
Lisbon, Dec.13,2019 (Lusa)–The Lisbon Stock Exchange closed Friday's session on positive ground, with its main index, the PSI20, rising 0.15%...
Lusa - Business News - Portugal: Teachers union considers 0.3% pay rise 'unacceptable´,´ provocation´
Lisbon, Dec.13,2019 (Lusa)– The Federation of Teachers (Fenprof) considered on Friday the proposal for wage increases of 0.3% for 2020,...
Lusa - Business News - Portugal: Mutualist Montepio Geral estimates €2M profit in 2019
Lisbon, Dec. 13, 2019 (Lusa) - The Montepio Geral Mutualist Association (AMMG) estimates to have recurring profits of two million...
CNA - Cyprus signs contracts for LNG terminal
CNA- Gregoris Savva-Nicosia
Cyprus and a consortium led by China Petroleum Pipeline Engineering Co Ltd signed a contract for the construction...
Lusa - Business News - Angola: Government wants to join African telecoms network to provide services
Luanda, Dec. 13, 2019 (Lusa) - Angola wants to provide telecommunications services to countries in the region and is developing...
Lusa - Business News - Mozambique: New Ressano Garcia dry port to decongest road linking South Africa
Maputo, Dec. 13, 019 (Lusa)- Portos e Caminhos de Ferro de Moçambique (CFM) is building a new port at Ressano...
Lusa - Business News - Portugal: Banking Association rejects changes to commissions for MB Way app
Lisbon, Dec.13,2019 (Lusa)-The Portuguese Association of Banks (APB) on Friday said in Parliament that there should be no legislative change...
Lusa - Business News - Portugal: Wells, Barral, Dermosense hydrating creams for children banned
Lisbon, Dec. 13, 2019 (Lusa) – Infarmed, the authority for medicinal and health products, has detected irregularities in seven hydrating...
Lusa - Business News - Portugal: Actor, director Tiago Rodrigues wins 2019 Pessoa Award
Lisbon, Dec. 13, 2019 (Lusa) – The Portuguese actor, director and artistic director of the D. Maria II National Theatre,...
CNA - Employment up by 3% in third quarter of 2019
CNA - Nicosia
Τotal employment during the 3rd quarter of 2019 increased by 3.0%, compared to the corresponding quarter of 2018,...
CNA - وزير الخارجية: قبرص تتعامل بشكل ايجابي مع الشؤون الإقليمية
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
صرح وزير الخارجية نيكوس خريستودوليديس لوكالة الأنباء القبرصية أن مهمة فريق المهندسين المدنيين الذي ارسلته قبرص إلى ألبانيا هي دليل ملموس...
Lusa - Business News - Portugal: Unions walk out of pay talks as budget draft foresees 0.3% increase
Lisbon, Dec13,2019 (Lusa)– Trade unions representing civil servants in Portugal on Friday walked out of talks with the Socialist government...
Lusa - Business News - Macau: Investment in new notaries, private providers to increase to 91
Macau, China, Dec. 13, 2019 (Lusa) – The Macau authorities on Friday said that they held the first of three...
Lusa - Business News - Macau: Gambling still represents 90% of receipts of casino concessions in 2018
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Lusa - Business News - Portugal: Health Department recommends one simple food labelling system
Lisbon, Dec. 13, 2019 (Lusa) – A report by Portugal’s Directorate-General for Health (DGS) recommends that the government adopt one...
Lusa - Business News - Portugal: Individual consumption at 83% of EU average in 2018; GDP at 77%
Brussels, Dec. 13, 2019 (Lusa) – Portugal in 2018 had levels of consumption and of gross domestic product (GDP)...
Lusa - Business News - Portugal: PM welcomes 'diplomatic death' of Finnish budget proposal
Brussels, Dec.13,2019 (Lusa)– Portugal’s prime minister António Costa on Friday in Brussels welcomed what he called the ‘diplomatic death’...
Lusa - Business News - Portugal: Meo sells Morgan Stanley 49.99% stake in fibre network for €1.565B
Lisbon, Dec. 13, 2019 (Lusa) – Meo, Portugal’s leading telecommunications service company, has sold 49.99% of its fibre optic network...
CNA - الرئيس أناستاسياديس يعرب عن تقديره الكامل لقرارات المجلس الأوروبي بشأن تركيا
وكالة الأنباء القبرصية - بلجيكا / بروكسل - اثاناسيوس اثاناسيو
أعرب رئيس الجمهورية نيكوس أناستاسياديس عن تقديره الكامل لقرارات المجلس الأوروبي بشأن تركيا. وكتب في تغريده له على موقع تويتر صباح...
Lusa - Business News - Angola: Embraer hopes TAAG will buy planes with wings 'made in Portugal'
Luanda, Dec. 13, 2019 (Lusa) – Brazilian plane maker Embraer will propose Angola buys six E195-E2 aircraft, a model whose...
CNA - المجلس الأوروبي: مذكرة التفاهم بين تركيا وليبيا لا تمتثل لقانون البحار
وكالة الأنباء القبرصية - بلجيكا / بروكسل - اثاناسيوس اثاناسيو
تبنى المجلس الأوروبي قرارات بشأن تركيا مساء أمس في بروكسل. ووفقًا للنص المعتمد: "إذ يستذكر المجلس الأوروبي قراراته السابقة بشأن تركيا...
Lusa - Business News - Mozambique: gas exploration starts in centre of the country
Maputo, Dec.13,2019 (Lusa)- Indonesian company Buzi Hydrocarbons is due to begin drilling for natural gas in the next few days...
Lusa - Business News - Portugal: PSI20 opens in the green, climbs 0.76% to 5,234.78 points
Lisbon, Dec. 13, 2019 (Lusa) – The Lisbon stock exchange opened in positive territory on Friday with the main benchmark...
Lusa - Business News - Portugal: Top headlines on Friday
Lisbon,Dec.13,(Lusa)-As the year draws to a close, people and the papers are looking at how much tax they will pay...
Lusa - Business News - Portugal: Moody's outlook for Baa3 sovereign debt rating upgraded to 'positive'




Lisbon, Aug. 12, 2019 (Lusa) – US credit ratings agency Moody's has raised the outlook for Portugal’s sovereign debt rating from 'stable' to 'positive', while keeping the rating itself Baa3 – just one notch above ‘junk’.
In a statement released late on Friday, Moody's notes that the better outlook for the rating is due to two factors: the steady reduction in the burden of public debt and the prospect of sustained improvements in the health of the country’s banking sector.
Moody's also expects that Portugal’s public debt as a ratio of gross domestic product drops below 110% in 2022, from 114% in the last assessment, the agency says in a statement announcing the change. It notes that Moody's projections continue to be more conservative than those of the government.
"The political pressures to increase public sector wages and health expenditures will continue," it states, adding that it believes that the government will be able to resist the spending pressures enough to keep the budget deficit very small – below 1% of GDP – in the coming years.
That, in combination with a strong tax take, employment growth, falling interest costs – as more expensive outstanding debt is replaced with new debt with lower yields – and tight spending restrictions will ensure that the deficit continues to fall.
Moody's also warns of the risks of high levels of private indebtedness, which although it has fallen by 29 percentage points of GDP in the last three years, remains very high given "the low savings rate and the prevalence of variable-rate debt.”
On Portugal’s banks, the agency notes that although "some institutions continue to have an impact on public finances, the system as a whole is becoming more robust” with a greater capacity to absorb losses, and a gradual reduction in non-performing loans. It sees the latter continuing in the coming years, partly through the sale of asset portfolios.
Moody's also gives clues as to what could lead to an upgrade of Portugal’s rating, saying that this should be possible if policy measures continue to stimulate the fiscal consolidation necessary to achieve a reduction in the debt burden during the next parliament and the domestic and external environment support these measures.
The risks for a downgrade are associated with the possibility of the government abandoning the commitment to fiscal consolidation and debt reduction, if October’s general election alters the situation in that direction. Other factors would include "lower than expected economic growth, a sharp rise in interest rates (...) or the need for unexpected capital support to the banking sector", as well as a "reversal of reforms – including pensions and the labour market".
Moody’s has rated Portugal’s debt as Baa3 since 12 October last year, with a stable outlook. It was the last of the major international agencies to promote it to investment grade from speculative or ‘junk' rating.
Currently, Fitch and Standard & Poor's of the US and DBRS of Canada rate Portugal’s debt as BBB, the second-lowest investment category.
According to the schedule for 2019, the next agency to review the country's economic and financial situation is S & P on 13 September. DBRS is to do the same on 4 October and Fitch on 22 November.

JE/ARO // ARO.
Lusa


Agency : LUSA

Date : 2019-08-13 10:18:59







 

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