Fitch moves Slovakia outlook to negative

Fitch Ratings said it revised Slovakia's outlook to negative from stable and affirmed its long-term foreign-currency issuer default rating at A.

“We forecast GDP growth to slow to 2% in 2022, which mainly reflects strong carry-over through the first quarter, and 1.9% in 2023, from a modest 3% in 2021. Private consumption will increasingly be affected by higher inflation eroding real wages, while ongoing (albeit easing) supply chain disruptions and weaker external demand will also affect exports and private investment,” Fitch said in a press release.

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