" Vic" Long -term Austrian bond classification is reduced with AA with a stable future look

Vienna on June 8 / WAM / Fitch Credit Classification Agency has declared a long -term classification of Austria from “AA” to “AA”, while maintaining a stable future outlook, as part of reviewing the degree of risk associated with long -term Austrian debt. The agency attributed the reasons for reducing the credit rating to the financial challenges and economic problems facing Austria, most notably the increase in the size of the public debt. The agency indicated that the financial and economic expectations of Austria have deteriorated since the last review, as the budget deficit of 2024 increased to 4.7% of the gross domestic product of the level of 3.7%. The agency’s report expected the continued increase in the volume of public debt as a percentage of GDP in the medium term, to settle at about 86% of the gross domestic product between 2027 and 2029. The size of the government debt, at the end of last year, reached 81.8% of the gross domestic product, which is much higher than the last previous expectations of 76.6%, and the Austria economy shrinkled by 1.2% in the past year, Registering a contraction for the second year in a row, and the economic product of Austria is currently less than 3.3%.

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