S&P affirmed Slovakia’s rating

The international rating agency Standard & Poor’s Ratings Services (S&P) affirmed its A-level long-term sovereign credit rating for Slovakia, while also confirming the short-term A-1 rating. The outlook for the country is stable, the TASR newswire reported on August 2.

The international rating agency Standard & Poor’s Ratings Services (S&P) affirmed its A-level long-term sovereign credit rating for Slovakia, while also confirming the short-term A-1 rating. The outlook for the country is stable, the TASR newswire reported on August 2.

The affirmation of the rating is in line with the country’s mild, although rising debt, and low net foreign debt. Moreover, the economy is likely to grow and the country’s banking sector is stable, as reported by TASR.

On the other hand, S&P warns against the high structural unemployment rate, high youth joblessness, weak employment and low standards of living, which still lag behind other eurozone countries, TASR wrote.

The investments into production and export capacities supported the increase in the incomes of Slovak households, with the GDP per capita increasing from $3,700 in 2000 to $17,500 in 2013.

S&P expects the government will decrease the budget deficit below 3 percent of GDP this year despite the decrease in the growth prognosis, as reported by TASR.

Source: TASR

Compiled by Radka Minarechová 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

“By a sharp knife” cuts through the heart of injustice in Slovakia

A film inspired by the 2005 murder of student Daniel Tupý will be premiered to the Slovak public on February 21.

Director Teodor Kuhn behind the scenes of Ostrým Nožom.

The moment that changed my perception of the media

One flew over the newsprint: Images from the history of the Sme daily

Alexej Fulmek (right) and Karol Ježík in the early days of Sme.

Stravinsky: Listening is an effort, and just hearing is no merit

Winter edition of the prominent chamber music festival Konvergencie focuses on Russian composer Igor Stravinsky.

Igor Stravinsky and Robert Roth