Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Estonia economic outlook better than US - S&P's

Apr 27, 2011
TBT Staff

Estonia economic outlook better than US - S&P's
Estonia's switchover to the euro is one of the main reasons that S&P's improved the country's outlook.

TALLINN -- In a landmark move, Standard and Poor's ratings agency has given Estonia a better economic outlook than the United States.

S&P's upgraded Estonia's outlook to "positive" just days after downgrading the US to "negative". The agency still maintains a stronger credit rating for the world superpower, however, at 'AAA' compared to Estonia's 'A'.

The agency cited Estonia's successful accession into the eurozone at the beginning of this year as one of the main reasons for the upgrade. Other helpful factors included it's low foreign debt and the country's strict budgetary discipline.

The news comes alongside another major indicator providing a boost to economic confidence in the country -- recent data shows that Estonia was the only country in Europe to register a budget surplus last year.

Last year's surplus amounted to 0.1 percent of GDP, largely due to the sale of pollution credits, state-run news agency ERR reported. No other EU country ended the year with a positive balance sheet.

Estonia's budget is expected to return to a deficit this year and remain in the red until around 2015.

Standard and Poor's is a US-based credit ratings agency. It is one of the "Big Three" along with "Moody's" and "Fitch".

 MORE NEWS
  • More Russian jets near Baltic ...
    The increased presence of Russian jets and warships near Latvia's borders are ...
  • Russia condemns Baltic ’attack...
    Russia will not accept an 'attack' against the Russian language in the Bal...
  • Lithuania treats injured Ukrai...
    Thirteen injured Ukrainian soldiers have been brought to Lithuania for medical tre...
  • WATCH LIVE: Major security con...
    The largest security and foreign policy forum in Northern Europe launches ...
  • EU to impose more sanctions on...
    EU member states agreed Thursday to implement a new round of sanctions against ...
  • WATCH LIVE: Latvia pre electio...
    A pre election debate is underway in Latvia featuring politicians from a variet...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.