Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

S&P affirms 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, yet 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 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.

Top stories

Police will check overpriced EU presidency

The presidency will also be scrutinised by state auditors.

The ceremonial launch of the Slovak presidency's logo.

Inspectors to focus on firms with foreign staff

Scrutiny follows media report by Serbian journalist concerning conditions in a Galanta-based plant.

Labour Minister Ján Richter

Bratislava councillors want gambling regulation, not ban

Seventeen councillors do not agree with total prohibition of gambling in the capital, they want to continue in its strict regulation.

SaS denies Russian media reports on its support of Slexit

The opposition party has objected to news in some Russian media stating that it supports the departure of Slovakia from the EU, i.e. Slexit.

Richard Sulík