2023-10-17 11:11:59
[비즈니스포스트] International credit rating agency Fitch maintained Korea’s national credit rating and outlook.
According to the Ministry of Strategy and Finance on the 17th, Fitch maintained Korea’s national credit rating at AA- and the rating outlook at ‘stable’ for the second half of this year.
▲ The Ministry of Strategy and Finance announced on the 17th that Fitch maintained Korea’s national credit rating at AA-.
Fitch previously raised Korea’s national credit rating from ‘A+’ to ‘AA-‘ in 2012 and has maintained the AA- rating.
The Ministry of Strategy and Finance said, “Until early last year, Fitch had repeatedly expressed concerns regarding Korea’s credit rating outlook due to the rapid increase in national debt,” and added, “However, regarding the government’s recent budget plan for next year, there is a strong will to maintain sound fiscal management.” “It was revealed,” he explained.
Fitch had previously downgraded the United States’ credit rating from AAA to AA+ in August due to weaknesses in the financial sector.
In this evaluation of Korea’s national credit rating, Fitch cited ‘good external soundness’, ‘macroeconomic resilience’, and ‘dynamism of the export sector’ as its strengths. On the other hand, ‘structural problems due to aging’ and ‘geopolitical risks such as North Korea’ were expected to be burdensome factors.
In addition, Fitch predicted that the growth of the Korean economy will recover and the level of fiscal deficit will steadily decrease.
The Ministry of Strategy and Finance said, “Deputy Prime Minister Chu Kyung-ho has met with major international credit rating agencies, including Fitch, and actively explained our government’s risk management and structural improvement efforts, including fiscal policy,” and added, “We will continue to communicate with Fitch and others on a regular basis to maintain and strengthen our external credibility.” “I will continue my efforts,” he said. Reporter Jeong Hee-kyung
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