Standard & Poor’s (S&P) announced the results of the credit rating as cited by the Slovak Finance Ministry, the TASR newswire wrote on July 28.
The agency is mostly concerned with the stable and relatively fast economic growth of the country, which should achieve a level of about 3.5 percent annually in the upcoming period – also thanks to the increasing consumption of Slovak households, the growing loan activities of banks and stable private capital investments.
S&P has also positively evaluated the low debt burden of the public sector, sustainable public finances, the stable volume of foreign investments and the well-capitalised banking sector with a low incidence of troublesome credits (5%). According to its estimates, the Slovak public debt should decline to about 48 percent of GDP by 2020.
The risks threatening economic development include, as cited by Standard & Poor’s, mainly the aging of the population, regional disparities and the issue of long-term unemployment.