Slovakia: Rating Confirmed by S&P

BusinessEconomy ♦ Published: August 6, 2012; 17:18 ♦ (Vindobona)

The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.

Slovakia: Rating Confirmed by S&P / Picture: © Wikipedia / Imalipusram

Slovakia´s public debt level grew from 75.5% in 2010 to 76.7% in 2011. In 2013, the debt level should rise to 81.0%. As a result, the government launched an austerity package last week. The deficit should be kept below 3.0% next year. In 2013, public expenses should be lowered by € 1.7bn.

Standard & Poor´s is optimistic that the Slovak government will reduce the budget…

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