Fitch Affirms A+ Rating for Estonia (2)

Photo: Reuters/Scanpix
6/1/2012 4:38 PM
Category: Economy

The rating agency Fitch reconfirmed Estonia's rating as A+, leaving the country's outlook at stable.

Fitch praised Estonia's accession to the Eurozone and the country's balanced recovery from the economic crisis.

On the other hand, the agency noted the continually low quality of life of Estonians and a volatile economic situation that is sensitive to neighboring economies.

Nevertheless, Estonia is more immune to foreign influences than it was in 2008 and 2009, Fitch said, thanks to increasing competitiveness.

Finance Minister Jürgen Ligi said the Fitch evaluation demonstrates the rightness of Estonian economic policies.

"In any case, we can conclude from this that our direction in restoring the budget surplus and reserves has been a necessary choice,” Ligi said.

 

Ott Tammik


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