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.

Get daily Slovak news directly to your inbox

Top stories

Railway station in Košice

Who’s the foreigner in this country now?

The virus has highlighted some differences between migrants and locals, but erased others.

23. jan

News digest: Slovakia has passed the peak of the second wave, health minister says

Polish doctors will help take swabs in Slovakia this weekend. People who have had COVID can just show their positive test result.

22. jan
Rapid testing in Košice

Nationwide COVID-19 testing – and criticism – starts again

Longer ‘screening’ different to October operation.

22. jan
Ján Sýkora is an easy-going ice-hockey player who has got a great sense of humour.

Fashion brands mean nothing to me. Professional hockey player about his life in central Slovakia

In an entertaining interview, the down-to-earth ice hockey player, Ján Sýkora, talks about being a busy bee with a poor memory.

21. jan