Slovak economic outlook rating improved

STANDARD & POOR’s rating agency confirmed on August 1 an A rating for Slovakia and improved its rating outlook from stable to positive.

STANDARD & POOR’s rating agency confirmed on August 1 an A rating for Slovakia and improved its rating outlook from stable to positive.

The revised outlook reflects the agency’s view that Slovakia’s fiscal consolidation will be aided by more balanced economic growth. The change indicates a “one-in-three” chance of a rating upgrade within two years if the country’s fiscal and economic performance outperforms expectations, according to the Hospodárske Noviny daily.

The agency predicts that Slovakia’s GDP will expand an average 2.8 percent in 2014-2017, driven by increasing domestic demand, improved tax revenues and decreasing public debt.

Prime Minister Robert Fico said in response that the rating justifies the ruling Smer party’s plan to introduce a package of measures costing approximately €250 million, according to Hospodárske noviny.

Compiled by Spectator staff from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Finance Minister Peter Kažimír

Draft budget curtails deficit below 2 percent

THE BUDGET deficit should continue decreasing in following three years, according to the first public administration budget draft introduced by the Finance Ministry on July 23.

Crash site

New facts about fatal helicopter crash emerge

THE THREE members of a military helicopter MI-17 crew were training winching up people into helicopter with the help of a rope not practicing landings, when they crashed on July 28 afternoon near Prešov.

Stanislav Boledovič

Teach for Slovakia chief talks education reform

STANISLAV Boledovič, the founder of the Teach for Slovakia project, believes that it helps socially disadvantages children succeed.

Police President Tibor Gašpar

Harabin releases third convicted police officer

Another police officer convicted for corruption was released by the appellate senate chaired by Štefan Harabin with the argument that the police inspectorate that investigated his case is unlawful. The former…