The financial rating agency S&P announced on Friday that it improved the outlook of the Spanish debt rating to stable since negative, considering that growth prospects are “favorable” in the medium term.
The Spanish sovereign debt score remains at A/A-1, which means that the capacity to pay is considered strong.
“Global geopolitical uncertainty and the rise in energy and raw material prices led us to lower our forecasts of Spain's GDP growth in 2022 to 6.1% compared to 7.0%,” the rating agency nevertheless explained in a statement.
S&P points out that Spain, in the medium term, should benefit from a sharp rise in tourism, a key sector of its economy that had suffered during the coronavirus pandemic.
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