A favourable track record of sound macroeconomic policies and moderate debt drive the affirmation. Vulnerability to external shocks, labour shortages and rising budget pressure from an ageing population are credit challenges.

The periodic review has resulted in no rating action.

Weakened medium-term growth prospects and deteriorated fiscal metrics drive the downgrade. A robust fiscal policy framework and favourable debt profile are key credit strenghts.

Monitoring review announcement

Marked deterioration in the growth outlook and high reliance on Russian energy drive the outlook revision. Solid public finances and a competitive industrial base support the rating.

The ratings are supported by robust public finances and a competitive industrial base. Demographic pressures and reliance on external demand remain challenges.

Scope has taken no action on the Czech Republic following a monitoring review

Scope has taken no action on the Czech Republic following a monitoring review

EU membership, resilient public finances and a history of strong income convergence support the ratings. Demographic pressures and reliance on external demand remain challenges.

A broad, diversified economy integrated within the EU, sound public finances, a solid current-account balance and banking system support the rating. Demographic pressures and household financial vulnerability are challenges.