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Japanese credit rating agency R&I affirms Latvia's credit rating at “A” level

Created : 06.12.2022.
Monday, on 5 December, 2022, Japanese credit rating agency R&I affirmed Latvia's credit rating at “A” level with stable outlook.

R&I mentions in it`s publication that the growth rate of Latvia's economy is expected to fall due to the inflation and the economic slowdown of major European countries, but Latvia's economy is likely to return to the pre-pandemic level of growth in the medium term, in light of its robust business environment and socio-economic systems. As Latvia is expected to receive a large amount of funds from the EU in the coming years, the country stands a chance of pushing ahead with the initiatives aimed at enhancing the growth potential of economy and tackling the issue of decreasing population.

According to the agency`s view, as Latvia has already secured alternative sources to replace the natural gas imported from Russia, the possibility that the restricted supply of energy will hinder the country's economic activities is limited.

The credit rating agency states that the burden of government debt and interest payments stands at a level well below the average among the EU members and there is no particular concern about debt burden and affordability.

The previous credit rating announcement from R&I was published on 25 January 2021, when Japanese credit rating agency R&I affirmed Latvia's credit rating at “A” level.

The full text of a publication is available on R&I web page.