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Home BUSINESSFinland retains triple A status in Euro zone
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Fri, 25 Oct, 2013 12:01:26 AM
FTimes-STT Report, October 25
 
File picture of the AAA status letter given to Finland by rating agency in December 2011. Photo – AFP/Lehtikuva.
Finland upheld its triple A (AAA) status of the economy despite the ongoing crisis, according to the evaluation of the Global Rating agency Fitch Rating.
 
Terming the economic situation of the country stable, the agency found the Finnish economy as one of the best, considering various indicators.
 
Good governance, high per capita income, good strength of net foreign investment and immaculate ability of servicing debt are among the indicators used for the grading.
 
Fitch estimated that the public sector deficit was not too large and that the pension system was also well funded. 
 
The report forecasted the possibility of growth declining by 1% by the end of the year.
 
Earlier, rating agency Standard & Poor also reaffirmed Finland's position in the best triple A class. The credit rating agency has also given Finland the best possible credit rate.
 
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