The international ratings agency Standard & Poor's has reaffirmed Estonia's long-term State rating at its former high level of AA-, with a stable outlook, reports the Ministry of Finance.
Standard & Poor's
© AFP/Scanpix

The short-term rating was set at the level A-1+

According to the agency, Estonia's strengths lie in its political stability, conservative public finances and flexible economy.

The agency expects Estonia to see an economic growth of 1.2 per cent in 2014, and that of 2.6 per cent in 2015. According to S&P, by the year 2016, the growth ought to accelerate to 3.5 per cent.

The agency expects that Estonia's budgetary deficit will be in a deficit of 0.2 per cent during the years 2014-2017, which is one of the best indicators in the entire European Union. In its press release, S&P mentions the recent change in the Government coalition, and states that in their estimation, new budgetary measures will not cause any fiscal risks.

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