Fitch revises outlook for Czech economy from stable to negative

The international credit rating agency Fitch has revised its assessment of the Czech Republic’s economy. While Fitch has maintained the country’s AA- rating, which is one level below the highest possible level, it revised outlook for the Czech Republic from stable to negative. The company cited problems such as reduced growth prospects, very strong inflationary pressures and dependence on Russian energy.

The Czech News Agency said the move meant that Fitch could in the near future also lower its assessment of the Czech Republic’s abilities to pay its international debt.