Spectator on facebook

Spectator on facebook

Fitch affirms Slovakia’s A+ rating

The Fitch Ratings agency has affirmed an A+ rating for Slovakia, with a stable outlook due to its proven ability to attract foreign investment, a solid banking sector and eurozone membership.

Illustrative stock photo(Source: AP/TASR)

By 2018, the agency expects the country’s GDP to grow at more than 3 percent, primarily supported by strong domestic consumption in the context of an improving labour market, the SITA newswire wrote on August 14.

Fitch also expects the fiscal position of Slovakia to improve: public finance deficit is expected to decrease to 1.6 percent of GDP by 2018, mainly thanks to the increase in tax revenues caused by fast economic growth. Along with a decline in the deficit and in combination with economic growth, also the public debt will decrease, according to Fitch expectations.

A positive scenario for the rating’s outlook would especially be a better-than-expected fiscal position and higher GDP growth. By contrast, a risk factor for the outlook and preservation of the rating would be a sudden shock for the economy from outside, which would strongly impact the automotive sector. 

Topic: Economics


Top stories

Scrapping the amnesties to be discussed in fast-track proceeding

The government proposal may be adopted on March 30.

Parliament discusses the laws intended to scrap the Mečiar amnesties.

We were joking before the trip, women from the first transport to Auschwitz recall Video

On March 25, Slovakia marked 75 years since the first transport of Jews to the Nazi concentration camp in Auschwitz.

EU opens e-payment market to IT giants

People should benefit from stronger competition, faster and cheaper payments and higher security.

Illustrative stock photo

Mendoza: A news story can change the world

Every journalist has the responsibility to take a story beyond their daily beat, says Martha Mendoza, one of the team of four women who won the 2016 Pulitzer Prize for Public Service for their “Seafood from Slaves”…

Martha Mendoza