Standard & Poor’s, one of the three major rating agencies, downgraded Slovakia’s rating to A with a stable outlook.
The downgrade of Slovakia's rating is proof of the government's poor fiscal policy, with Finance Minister Ladislav Kamenický being primarily responsible for this, representatives of several opposition parties stated on Saturday, advising Kamenický to resign.
Prime Minister Robert Fico says the government is preparing a package of measures to boost the economy and ease the impact of high energy prices. He also criticised the European Commission for failing to deliver urgent, EU-wide solutions to the current crisis. Fico noted that Slovakia’s small, export-oriented economy is highly sensitive to external factors, especially developments in major economies like Germany. Despite limited domestic resources, he says the government is not giving up and will present the measures soon.
Source: TASR
