Mediafax (Mediafax)
Macroeconomics  |  December 15, 2010 12:55:16

S & P confirmed the rating of Slovakia, but warned against a larger deficit


Mediafax

BRATISLAVA (MEDIAFAX) - The credit rating agency Standard & Poor's (S & P) confirmed the credit rating of Slovakia. At the same time warned that failure to Bratislava to reduce the deficit as planned, reported Reuters on Wednesday.

S & P's report warned that Slovakia's budget deficit next year will be higher than 4.9 percent of gross domestic product (GDP) envisaged in the budget for 2011. Bratislava, according to S & P also fails to shrink its deficit below three percent of GDP by 2013.

The rating agency is expected that the government manages to reduce the deficit to six percent of GDP in 2011, then to four percent of GDP by 2013.Slovak economy according to the S & P faces risks, these include the possible lower growth than expected.

Slovakia is currently enjoying a long-term debt rating at "A +" rating agency evaluates the short-term liabilities grade "A-1". The outlook is stable.


Simone Radacicova, radacicova@mediafax.cz

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