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Fitch affirms the Finland's rating at AAA; outlook stable

FXstreet.com (San Francisco) - Fitch Ratings has affirmed the Finland's sovereign rating at AAA according to a press release published by the firm. "Finland's rating is underpinned by a combination of strong governance, high income per capita, a positive net international investment position and an impeccable debt service record."

The outlook remains stable. Fitch expects Finland's growth "to remain sluggish in 2013" after the contraction in 2012. Finland will advance 0.4% in 2013 before accelerating to 1.4% in 2014 "on the recovery in the eurozone."

The "government borrowing is currently strongly placed in financial markets. The strength of public finances is a key support to the rating despite the more pressing issue of population aging." However, "Fitch expects the government's consolidation efforts will ease the general government deficit to around 1.5% of GDP in 2015 from 2.3% of GDP in 2012. As a result the debt to GDP ratio will peak at around 58% in 2014 from 53% in 2012."

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