Moody's Investors Service said Portugal's export performance is showing remarkable improvement but it wonders whether this progress will continue or only temporarily, as Moody's in its review takes into account growth prospects as major point.

The Portuguese Prime Minister mentioned that Portugal will not need a bailout and the austerity measures will not affect growth outlook.

However, markets await Moody's latest review for Portugal after it said in December that Portugal may be subject to a downgrade by one or two levels.