Stable outlook for Slovakia, affirms Fitch Ratings

The international rating agency Fitch has confirmed Slovakia's long-term foreign and local currency Issuer Default Ratings (IDR) at A + with a stable outlook. The issue ratings on Slovakia's senior unsecured foreign and local currency bonds have also been affirmed at A+, while the country's ceiling has been affirmed at AAA and the short-term foreign currency IDR at F1. Fitch Ratings expects Slovak Gross Domestic Product (GDP) to strengthen by 3.2 percent and by 2017 the economy is expected to grow by 3.3 percent. According to the agency, it's the strengthening of domestic demand that will be promoting the economy's growth. Fitch assumes that household consumption will be favourably influenced by lower unemployment.