Ljubljana - The credit rating agencies S&P Global and DBRS Morningstar have confirmed Slovenia's credit rating, the Finance Ministry has announced. S&P Global confirmed the credit rating at AA- with a stable outlook and DBRS Morningstar at A with an equally stable outlook.

DBRS Morningstar has also published a report stating that Slovenia's credit rating reflects the strong framework of Slovenia's macroeconomic policies, which had been established before the Covid-19 pandemic crisis and mitigated its negative impact.

The strong pre-crisis position has reflected in both the economic recovery and the sustainability of public finances, the Finance Ministry said on Saturday.

"The Slovenian economy contracted due to the pandemic in 2020, but less than expected, which is also the result of government measures. In the first half of this year, the economy recovered strongly and reached pre-crisis growth levels in the third quarter."

The ministry added that public finances had also entered the crisis strengthened, noting that DBRS Morningstar expected a gradual recovery of Slovenia's public finances.

The rating agency sees Slovenia's creditworthiness in an economy with high added value, efficient and prudent debt management, a sound fiscal framework and membership in the EU.