New York, July 26 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has affirmed Estonia’s A1 government bond rating and stable outlook.
In a research note published yesterday, the analysts state that the main reason behind Moody’s decision is the high financial strength of the government, supported by its demonstrated ability to implement conservative budgetary policies.
Another reason was Estonia’s solid government balance sheet as witnessed by its low levels of indebtedness, which sets it apart from its A rated and other euro peers. Estonia’s gross debt was 6 percent of GDP and is expected to increase to 8.8 percent of GDP in 2012 due to a 2.7 percent of GDP addition of debt attributed to the contribution to the European Financial Stability Facility.
And the third reason is Estonia’s low susceptibility to external shocks. As Moody’s expects that Estonia’s economic growth will slow in 2012 due to a fall in external demand. The risk will be balanced by the negligible domestic imbalances in the economy, the analysts say.
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