Home Economy Classification. Moody’s agency concerned about “delays” in the execution of PRR

Classification. Moody’s agency concerned about “delays” in the execution of PRR

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the agency of classification Moody’s is concerned about “delays” in the Portuguese implementation of the Recovery and Resilience Plan (PRR), the Europe-wide investment program launched at the height of the Covid-19 pandemic. The agency issued a “credit opinion” where, despite not changing Portugal’s credit rating, it warns that a “negative risk” for the classification it is related to the degree of implementation of the PRR.

“The implementation of the PRR has experienced some delays this year,” says Moody’s, noting that “the delay seems to be related to the work of creating the institutions that will manage the plan”, in addition to the fact that there are also problems related to the difficulties in the global supply chains and labor constraints in the construction sector.

Moody’s had scheduled for last Friday a possible change in the classification Portuguese, appointment made in accordance with European standards. But he ended up not taking advantage of this opportunity and, a few days later, he issues a “credit opinion” that portrays the current prospects of the Portuguese economy.

Despite not touching classification“authorities [o Governo] advance in structural reforms that increase the growth potential of the Portuguese economy.

Source: Observadora

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