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. 

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Theme: Economics


Top stories

The start of trial in the Kuciak and Kušnírová murder case set

The court plans to publicly hear the indictment.

Illustrative stock photo

A sad anniversary: The High Tatras turned into a moonscape 15 years ago

A strong windstorm damaged vast forests in 2004, leaving two people dead.

Slovakia was hit by a strong windstorm on November 19, 2004, causing massive damage to nature and people

Blog: 30 years after the Velvet Revolution, we still haven't found the Slovak original

November 17, 1989 was all about giving another chance to dreams stolen in 1948 and 1968.

Illustrative stock photo

Who is the new patron of Košice?

Naming the new patron symbolically closes a circle as the saint has been worshipped in the city for centuries, according to the mayor.

The ceremonial mass in St Elizabeth's Cathedral in Košice.