Fitch Ratings downgraded Slovakia's Long-Term Foreign-Currency Issuer Default Rating (IDR) from A+ to A with a stable outlook in the wake of the coronavirus outbreak's impact on the Slovak economy, the Finance Ministry reported on Saturday. According to Fitch's forecast, Slovak GDP will shrink by 10 percent in 2020 and the public deficit will swell to 7.7 percent of GDP, with the aftermath also due to translate into higher debt - from 48 percent of GDP in 2019 to almost 60 percent of GDP this year.
Romana Grajcarová, Photo: TASR
