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Fitch affirms Latvia's credit rating at "A-"
BC, Riga, 08.12.2014.
Print version
Print versionInternational rating agency Fitch has decided to keep Latvia's credit rating at "A-", with future outlooks being stable, reports Reuters/LETA.
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Fitch has affirmed Latvia's long-term foreign and local currency Issuer Default Ratings (IDR) at "A-".
Fitch forecasts real GDP to grow 2.7% in 2014 and 2.6% in 2015, albeit a downward revision of 0.9%age points and 1.2 percentage points, respectively, from July's forecast.
Latvia's 2015 budget deficit will remain at 1% of GDP, Fitch believes.
The agency indicates that Latvia's budget finances are comparatively strong in comparison with the rest of the eurozone, and that Latvia is one of the fastest growing economies in the eurozone.
Latvia's economy will be mainly affected by geopolitical risks and a weak eurozone environment. Medium-term growth will be domestically driven, offsetting a fragile outlook on net exports.
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