Fitch affirms Czech Republic at 'A+'
2014-05-16 12:20:04
Czech Republic's credit rating was affirmed at 'A+' with 'stable' outlook on Friday.
Fitch Ratings said a sound macroeconomic policy framework, underpinned by EU membership support the current ratings of Czech Republic.
Fitch projects the economy to grow 1.9 percent in 2014 and 2.5 percent in 2015, a sharp improvement compared with a contraction of 0.9 percent in 2013.
Strong government finances also support the rating, the agency said. It observed that the 2013 deficit outturn represents a significant out performance against the government's target of 2.9 percent for that year.
The formation of a government in January 2014 has reduced uncertainty around fiscal policy. Further, its external finances are sound, Fitch said.