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27 Sep 2013
Austria keeps the AAA rating, outlook stable
FXstreet.com (Edinburgh) - Credit-rating agency Fitch confirmed today that Austria remains within the small group of AAA countries with outlook stable. The lowest jobless rate in the euro area plus a diversified economy and high GDP per capita were the main drivers behind the decision. The persistent current account surplus was another solid bonus favouring the country.
According to the official report, “Fitch assumes that Austria's economic growth rate will increase to 1.4% by 2014 from 0.4% in 2013, in line with key trading partner Germany. This is also premised on the nascent eurozone recovery staying on track”. The agency expressed no concerns regarding the upcoming elections, arguing, “General elections will be held on 29 September. Fitch assumes Austrian policy will remain broadly similar at the European and domestic levels following the elections”.
According to the official report, “Fitch assumes that Austria's economic growth rate will increase to 1.4% by 2014 from 0.4% in 2013, in line with key trading partner Germany. This is also premised on the nascent eurozone recovery staying on track”. The agency expressed no concerns regarding the upcoming elections, arguing, “General elections will be held on 29 September. Fitch assumes Austrian policy will remain broadly similar at the European and domestic levels following the elections”.