Fitch affirms Slovenia’s stable outlook

Bonitetna agencija Fitch Ratings.

Ljubljana – Ratings agency Fitch has affirmed Slovenia’s s long-term foreign currency issuer default rating at A with a stable outlook, a move the Slovenian Finance Ministry said on Saturday showed Fitch recognises the country’s economic and financial stability and institutional strength, which are underpinned by its EU and eurozone membership.

Fitch forecast on Friday that Slovenia’s economy will grow at 5.5% this year, and at 1.3% next year, mostly due to the impact of the energy crisis.

The agency forecast a modest narrowing of the fiscal deficit to 3.6% of GDP in 2022, which continues to be considerably below the eurozone average.

As for Slovenia’s general government debt, Fitch estimated that compared to 2021, it will fall to 68.6% of GDP in 2024.