Fitch changes Estonia to positive

Fitch Ratings said it revised the outlook on Estonia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the ratings at A+.

Fitch said GDP growth in Estonia appears to have returned to a higher trajectory, in line with its long-term potential after years of underperformance since the global financial crisis.

“This improvement is the result of favorable external conditions, strong domestic consumption and investment, as well as sound fiscal policy management. We expect full-year growth to reach 4% in 2017 and 3% in 2018-2019, with upside risks to the forecasts given the strength of momentum registered in 1H17,” the agency said in a news release.

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