Spectator on facebook

Spectator on facebook


Another agency downgrades Slovakia's risk indicator

Business information group Dun & Bradstreet (D&B) announced on April 15 it had downgraded Slovakia's risk indicator to DB4d from DB4b, citing "several inauspicious economic and political developments" as the reason behind the decision. "Although real GDP increased by 6.5 percent in 1997, this was driven mainly by heavy foreign borrowing on the part of a number of Slovak enterprises," the report said. "Although the current account deficit fell in 1997 to an estimated 7.5% of GDP from 10.2% in 1996, this was due to the introduction of an import surcharge which dampened demand for consumer goods imports," D&B continued, adding that political tensions in the country were another risk factor. "There are concerns in the West over the apparent maneuvering by Prime Minister Vladimír Mečiar to increase his authority through the assumption of a number of presidential powers following the departure from office of the previous president, Michal Kováč, in early March," D&B stated. Earlier last month, Moody's Investors Service downgraded Slovakia's country ceiling for foreign currency bonds and bank deposits to below investment grade. The move was soon followed by Standard & Poor's, which downgraded Slovakia's ratings' outlook to negative from stable.

Top stories

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness