Spectator on facebook

Spectator on facebook

Standard & Poor's raises Slovakia's rating

Standard & Poor's (S&P) Ratings Services raised its long-term sovereign credit rating for Slovakia to 'A' from 'A-'. At the same time, the country's short-term rating was raised to 'A-1' from 'A-2'. The outlook is stable, announced S&P on its website on December 19.

The change gives Slovakia the highest rating of all states in the Visegrad Four regional grouping, which besides Slovakia includes Poland, Hungary, and the Czech Republic.

"The upgrade reflects Slovakia's rapid progress in public sector reform, its strong growth prospects, and the prospect of entry into the Eurozone by 2009," said Standard & Poor's credit analyst Kai Stukenbrock.

The ratings remain constrained by the country's moderate wealth and inefficient social security system, said S&P.

"At $8,520 (Sk270,000) in 2005, per capita wealth in Slovakia is significantly below the median for an 'A' rating ($12,100, or Sk383,000). Further public sector reforms and the tackling of structural and regionally uneven unemployment are central to promoting sustainable economic growth," stated S&P.

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

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Slovakia is the first country to test a new VAT refund app

Getting money back for buying souvenirs in Slovakia will be easier - there will be an app.

Illustrative Stock Photo

Prosecution has found errancies in criminal files related to self-employed farmers

General prosecutor feels that some prosecutors in the east of Slovakia follow their own conscience and opinion and not valid legislation.

General prosecutor Jaromír Čižnár

Begin afresh

I’m not sure if there is a typical Canadian way to get married.

Homophobic banners attributed to Ján Mrva give rise to criminal complaint

The Bratislava Mayoral candidate denies being behind the banners but has not condemned the contents argues NGO.

Ján Mrva