Fico: Slovakia's Maintained Credit Rating is Good News, Slap to Critics

Prime Minister Robert Fico has hailed the recent confirmation of Slovakia's credit rating by Fitch Ratings as a significant victory and a vindication of his government's economic policies. The rating, maintained at A- with a stable outlook, was presented by Fico as a direct refutation of criticism from the media, NGOs, and the opposition. "I think the credit rating assessment of Slovakia, which was confirmed on Friday, is a big slap in the face to you media, to NGOs, and to the anti-Slovak and anti-government opposition," Fico declared, emphasizing that the rating agency's decision validates the effectiveness of his government's public finance consolidation efforts.

Fico contrasted this positive assessment with a previous downgrade by Standard and Poor's, suggesting that Fitch's confirmation demonstrates Slovakia's reliability as a financial partner. He pointed to the successful sale of state bonds worth 700 million Swiss francs as evidence that financial markets trust the country. "If the financial market didn't believe us, then nobody would buy anything from us," he asserted, highlighting the market's confidence as a key indicator of economic stability.

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I think the credit rating assessment of Slovakia, which was confirmed on Friday, is a big slap in the face to you media, to NGOs, and to the anti-Slovak and anti-government opposition.

Looking ahead, the government is preparing a package of pro-growth economic measures, to be discussed by the coalition council. Fico acknowledged the challenging external economic environment but stressed that the proposed measures would primarily focus on stimulating growth without significantly burdening the state budget. Further proposals will be considered later, pending comprehensive economic forecasts and budget planning for 2027. The government's stated goal is to leave public finances in a sound condition for the next administration, ensuring Slovakia is not the worst-off country in the EU fiscally.

Finance Minister Ladislav Kamenický provided supporting data, comparing the planned deficit of the previous caretaker government with the current government's actual deficit figures. He highlighted a consolidation of 2.06% of GDP, arguing that without these efforts, Slovakia's deficit would currently exceed 7% of GDP, with national debt being significantly higher. This narrative positions the current government as fiscally responsible stewards, successfully navigating economic headwinds and strengthening Slovakia's financial standing.

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If the financial market didn't believe us, then nobody would buy anything from us.