The Standard & Poor's Agency confirmed the A+ ranking with a stable outlook for Slovakia. The main reasons for the evaluation are positive predictions for the country's economic growth, well capitalized bank sector, stable fiscal policy, growing employment and low foreign debt. Moreover, according to the Agency, Slovakia does not have to worry about too steep a slowdown of the economy thanks to strong domestic demand. On the other hand, the country is open and oriented mostly on the automotive industry, which increases its sensitiveness to any negative development in industry. In the event of a decline in foreign demand, the gross domestic product could slow down to 2.5% this year and next year.
Mojmir Prochazka, Photo: AP/TASR
