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

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

EC: Focus on education and labour market

Some recommendations remain the same as last year.

Illustrative stock photo

No Slovaks among the victims of Manchester attack so far

The representatives of Slovakia have expressed their sympathy to the families of the victims.

Police guard close to the Manchester Arena in Manchester, Britain, on May 23, 2017, a day after an explosion.

Slovak paralympic athletes win gold and bronze at World Championship

Three Slovaks became world champions in table tennis in the TM2 category at the World Paralympic Championship in Bratislava.

L-R: Ján Riapoš, Martin Ludrovský in the Slovakia-Taiwan match at the paralympic world championship, May 19.