Though Portugal seems out of the woods with a projected growth rate of 2.5 percent this year, according to the International Monetary Fund, consumer and business habits might jeopardize the economy in the future.

"My fear is more on the change of habits," Diogo Teixeira, CEO of Optimize Investment Partners, told CNBC. "We've seen in the last couple of years some signs of complacency and return to bad habits that have put the country in the bad shape it went through in 2011," he noted.

"If the private and public sector don't change their habits throughout the next couple of decades we may have at the end of the road in 10 or 20 years again another crisis in Portugal," Teixeira warned, talking specifically about high consumer and business borrowing.

Portugal found itself asking for financial help in 2011 after private and public debt surpassed the country's ability to finance itself. Though the country has implemented many reforms, its corporate sector still has to deal with a lot of debt on its balance sheets.