Structural Reforms For Long-Term Development
Slovakia - Credit Strengths in Detail
Strong growth
ARDAL
High and sustainable growth: 3.2% in 2017 and 4,1% in 2018
Accelerated convergence to Eurozone's core
Strengths
Credit
#
elenols
Sound fundamentals
Fiscal discipline
Low public debt
Export oriented
An export-oriented performer with balanced external accounts: moderate
current account deficits explained by investment imports
Well capitalized banking sector without government assistance
Strong fiscal discipline based on medium-term targets
Fiscal deficit in 2018 estimated at 0.6% of GDP and further consolidation
reflected in approved balanced budget in 2019
Public debt expected at 48.8% of GDP in 2018 vs. a 86.9% average in the
Eurozone (2018)
Fiscal Responsibility Act: essential tool for debt consolidation. Public debt is
expected to remain below the national debt brake (50%)
Competitive export sectors with high value niches in key industrial sectors
(motor vehicles, machinery, equipment, metal products, electronics, etc.)
Amongst the highest rated countries in the CEE region (A2/A+/A+)
High credit ratings
Moody's positive outlook since April 2017
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