S&P changes Slovenia to positive

S&P said it revised its outlook on the Republic of Slovenia to positive and affirmed the A/A-1 long- and short-term foreign and local currency sovereign credit ratings.

S&P said the outlook revision reflects its expectation that the recovery of the Slovenian economy will continue at a solid pace.

The agency now estimates that the Slovenian economy will grow by about 2.5% in 2016 and accelerate to 2.7% in 2017, supported by strong net exports and increasing private consumption. The latter will be supported by higher disposable incomes thanks to improving labor market conditions, low, albeit slowly increasing, inflation and likely public sector wage hikes, as well as growing household credit.

In addition to domestic demand, Slovenia's economy will continue to be supported by the country's competitive export-oriented economic structure, S&P said.

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