Slovakia gets A+ from Standard & Poor’s again

The rating agency pointed to Slovakia’s positive economic growth outlook.

An illustrative image.An illustrative image. (Source: TASR/AP)

Standard & Poor's is another rating agency to reconfirm an A+ rating with a stable outlook in the case of Slovakia.

Related articleSlovakia maintains its rating, but its outlook worsens Read more 

A positive outlook for economic growth, stable fiscal policy, low external debt, and the well-capitalised banking sector are the main reasons why S&P’s took this decision, the SITA newswire reported.

Besides, Slovakia does not have to worry about a rapid economic slowdown due to strong domestic demand. The rating agency also underlined a growing employment rate.

Fiscal performance to be improved

S & P’s, however, added that Slovakia is a car industry-oriented and open economy.

This makes Slovakia more sensitive to potential unfavourable developments in the industry. The agency also said Slovakia’s economic growth may slow down to below 2.5 percent in 2020 and 2021 provided that foreign demand weakens.

Standard & Poor’s, moreover, recommended that Slovakia strengthen its fiscal performance to improve its rating as well as decrease its net government debt.

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