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

Gilden: Take the negative and make a positive from it Photo

The works of New York native, photographer Bruce Gilden, who has worked for five decades in the streets of the biggest cities, are on exhibit in the Kunsthalle (House of Arts) in Bratislava.

Bruce Gilden: Feast of San Gennero, Little Italy, 1984.

The ongoing struggle for a free and democratic Slovakia

The people of Slovakia deserve the credit for the remarkable progress that this country has made over the past twenty-five years, US ambassador writes.

Illustrative stock photo

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between November 24 and December 3, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Christmas Markets Bratislava

Robert Fico has lost the electoral magic he once had Plus

But his party can still bounce back if they do the things that make parties resilient.

Robert Fico claims that Smer won the regional elections because it is the party with the most chairs in regional councils.