President Marcelo: “Markets are sensing Portugal’s financial strength”

  • ECO News
  • 17 May 2017

The President stated this Wednesday that the debt placement with even more negative interests confirms an "economic turning point". He also states markets are "sensing" Portugal's strength and growth.

The President of the Portuguese Republic Marcelo Rebelo de Sousa stated this Wednesday that Portugal having placed 1,500 million euros of debt with even more negative interests “confirms an economic turning point” and also represents the markets’ sense of “financial soundness” in the country.

“It is another good news, which confirms the economic turning point in the Portuguese economy I had mentioned. Markets are sensing Portugal’s financial soundness, they are sensing the country’s growth and, therefore, the Government rightly takes advantage of the situation, financing itself in a positive moment, and markets answer with even more negative interests”, stated Marcelo Rebelo de Sousa.

Portugal has placed 1,500 million euros worth of Treasury bills in six and twelve months’ maturities with even lower interest rates than in the previous comparable auctions, announced IGCP.

“It would be unthinkable that one year ago, two, three, four years ago, we could collect money on a six month or a one year maturity with such negative interests, which means people are paying to have Portuguese debt. That is good news“, highlighted the President of the Portuguese Republic.