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 photoIllustrative 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. 

Get daily Slovak news directly to your inbox

Theme: Economics

Read more articles by the topic

Top stories

News digest: Long queues around Slovakia on the first day of nationwide testing

Hundreds of thousands got tested during the first five hours. Experts warn it is too early to interpret the results.

Drive-in testing site in Bratislava.

Afraid of testing? Minimise your risk of infection with these test day tips

Coughing is the most dangerous part of the testing process.

Zborov, the Bardejov district

UPDATED: Nationwide testing for COVID-19 is on

Long queues have formed in front of most testing points since early morning. Some drive-through sites closed in Bratislava

Testing in Trenčín, western Slovakia

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov