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The S&P agency confirmed the ratings of the Czech Republic with a stable outlook
The international rating agency S&P Global Ratings has confirmed to the Czech Republic a rating of long-term and short-term liabilities in foreign currency at AA- / A-1 + and a rating of long-term and short-term liabilities in domestic currency at AA / A-1 +. The outlook for ratings was confirmed by the agency at a stable level.
Yazar: Tom Roberts
Yayınlanma: 1 Kasım 2020 23:36
Güncellenme: 15 Mayıs 2024 09:34
The S&P agency confirmed the ratings of the Czech Republic with a stable outlook
The international rating agency S&P Global Ratings has confirmed to the Czech Republic a rating of long-term and short-term liabilities in foreign currency at AA- / A-1 + and a rating of long-term and short-term liabilities in domestic currency at AA / A-1 +. The outlook for ratings was confirmed by the agency at a stable level. The stable outlook reflects the agency's expectation that the Czech government still has enough room to support the economy during the pandemic until the recovery that S&P expects from the second half of next year begins. The agency currently forecasts that the Czech gross domestic product (GDP) will show a decline of almost 9 percent or more this year, depending on the duration of the lockdown. S&P estimates that the general government deficit will reach 7 percent of GDP. The support of the Czech economy from monetary policy is still completely conventional and the Czech central bank has retained the possibility of applying more unconventional measures. The agency added that the Czech economy has several effective reserves. For example, before the pandemic, the country's economy achieved strong and balanced growth. At the same time, tight fiscal policy maintained the decline in public debt, which fell below 20 percent of GDP at the end of 2019. S&P expects that Czech public debt will stabilize slightly above 30 percent of GDP, which is still low in terms of international comparison.İLGİLİ HABERLER
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