S&P revises Estonia view to stable

S&P said it revised its outlook for Estonia to stable from positive and affirmed its AA- ratings.

“The stable outlook reflects our expectations that the Estonian economy can weather temporarily reduced growth and higher spending pressures without any significant deterioration of its credit metrics over the next two years. The conflict in Ukraine will lead to a recession and potentially higher inflation for the Estonian economy, in our view. However, the fallout on public finances should prove manageable; we project that gross government debt should remain below 18% of GDP over the next three years,” S&P said in a press release.

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