Moody’s prediction of strong growth in CEE countries includes Slovakia

THE MOODY’S Investors Service has forecast the growth of Gross Domestic Product (GDP) averaging 3 percent in the period of 2015-16 for the central and eastern European countries of, Slovakia, the Czech Republic and Poland.

NBS central bankNBS central bank (Source: Jana Liptáková)

This forecast is higher than the expected Euro-zone growth of 1.5 percent, the Trnavské Echo regional newspaper wrote on October 1. However, these countries may face challenges that could test their resilience against macroeconomic shocks, the Moody’s report opines, adding that the domestic risks include threats to the continuity of economic reforms or the slow down in progress of structural reforms.  

External risks may come to light in the form of inappropriate reactions to the stricter monetary policy in the USA, the greater than expected slow down of the Chinese economy or the potential of Greece leaving of the Eurozone.

The report from September 30 does not contain specific decisions regarding credit ratings of the countries evaluated and it shall only offer updated infromaiton on the market, Moody’s wrote.

These three CEE countries are growing at a slower pace than in the pre-crisis period but their impact resistance is supported by a lack of greater macroeconomic imbalances, the rating agency concludes. The Czech Republic has a long term A1 rating, while Poland and Slovakia have A2. The outlook of all ratings, is stable.

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