Slovakia has maintained its A+ economic rating, though with a warning note attached. The Standard & Poor’s rating agency confirmed the rating, a move that helps the country borrow money at lower interest rates. However, the agency’s analysts expect Slovakia’s economy to grow by only 0.8 percent next year. Increased exports and car production—especially following the launch of the Volvo plant in eastern Slovakia in 2027—are expected to drive the recovery.
The government welcomed the agency’s assessment. Finance Minister Ladislav Kamenický (Smer) said the rating reflects confidence in the recovery of public finances. Prime Minister Robert Fico described the agency’s decision as proof that the government is acting responsibly.
“We have record low unemployment. Are real wages rising? Yes, they are. The minimum wage is going up. Is the payment of pensions at risk? Are pensions being paid? Yes, they are,” Fico said.
Opposition leaders, however, see the negative outlook as a warning sign. Michal Šimečka, chairman of the Progressive Slovakia (PS) party, argued that the A+ rating with a negative outlook signals stagnation and declining investor confidence.
Viliam Páleník from the Economic Institute of the Slovak Academy of Sciences added that ratings primarily inform investors about the likelihood of getting their money back with interest.
“Yes, it is praise to a certain extent, but it should be emphasized that it comes with a negative outlook,” said Páleník. “This means that the agency views the latest consolidation measures as potentially problematic in the future. The outlook is negative—it is definitely not praise.”
Further assessments will be crucial. According to Ľubomír Koršňák, an economic analyst at UniCredit Bank, other agencies could follow with a slight downgrade.
“Slovakia still has a relatively good rating. We are still deep in the investment zone, which means we are not on the edge of the investment zone like Romania or Hungary, for example,” Koršňák explained.
Slovakia’s investment standing will become clearer in the coming months, when other major agencies—Fitch and Moody’s—publish their ratings.
Source: Rádiožurnál, Slovak Radio
