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Transparency report 2018
Wednesday, 27 March 2019

The EUROPEAN RATING AGENCY, a.s. publishes its Transparency report according to Article 12 of the Regulation of European Parliament and the Council (EC) of 16 September 2009 on credit rating agencies as amended.

Transparency report 2018

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ERA rates Czech Republic AA-, outlook Stable
Friday, 01 February 2019

The unsolicited credit rating AA- assigned to Czech Republic stems from fiscal surpluses, low debt, and high foreign exchange coverage ratios. Governance indicators, which are highly above average on the world scale, also support the final assessment. However, the governance score lags behind those of leading advanced economies and therefore constrains the final rating.

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Strong fiscal rules in the EU do not guarantee good fiscal health
Monday, 21 January 2019

General government budget balance and stability in the EU

EU countries have developed the strongest global fiscal framework. They use three types of fiscal rules - budget rules setting limits on government structural deficits (typically 0.5% GDP), debt rules setting limits on debt-to-GDP-ratios (60%), and expenditure rules setting targets for the growth of government expenditures (based on the growth of potential GDP).

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