Spectator on facebook

Spectator on facebook

Rating agency forecasts reducing the debt for Slovakia

The rating agency expects economic growth for Slovakia in the next three years – at the level of about three percent annually.

The British Jaguar Land Rover (JLR) company comes to Nitra among foreign investments.(Source: Sme )

Standard and Poor’s rating agency confirmed a rating of A+ for Slovakia on January 27, with a stable outlook. It forecasts fast economic growth for the country, reducing the debt and continuing to attract the interest of investors, the Finance Ministry informed the TASR newswire.

S&P in its evaluation expects the economic growth in Slovakia between 2017 and 2020 to be at about three percent a year. It also positively appraises the relatively low external debt of the country and expects a gradual decrease of the public debt.

Apart from stable economic growth, the cabinet measures to improve tax collection have contributed to this development, the ministry added.

“Slovakia remains an attractive country for foreign investments,” the ministry stated, as quoted by the Sme daily, “while the continuing construction of the Jaguar Land Rover plant near Nitra should bring along, as expected, more foreign investments of suppliers, amounting to about €100 million,” the ministry informed, adding that these investments will result in more new jobs.

The Slovak banking sector also remains stable and well-capitalised, and the share of unpaid loans is at an acceptable level.

“However, the structural problems – especially regional disparities, an aging population and continued long-term unemployment are currently limiting the potential increase in Slovakia’s rating according to S&P,” the Finance Ministry wrote.

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.

Topic: Economics


Top stories

Long-neglected Renaissance house in Bratislava’s centre reveals its secrets Photo

The National Trust is bringing the historical Rómer’s house back to life.

Renaissance Rómer’s house in the Bratislava's Old Town

Slovak healthcare needs thousands of medical workers

Slovak doctors, nurses and midwives are not hesitating in finding better work conditions abroad.

Illustrative Stock Photo

RE-inventing modern theatre Photo

This year's international theatre festival REvolves around the prefix “re”, playing with its meanings and connotations, while also commemorating the years in (Czecho-)Slovak history ending with 8.

TR Warsaw: My Struggle

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between September 21 and September 30, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Kapitulská