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Economist: Austria to regain Triple-A credit rating in four years

(Xinhua)

08:39, February 23, 2012

VIENNA, Feb. 22 (Xinhua) -- Austria is expected to regain its Triple-A credit rating from the agency Standard & Poor's (S&P) in four or five years, said an economist of the German Deka Bank here on Wednesday.

Deka's chief economist Ulrich Kater said the rating agency possibly will allow itself a certain amount of time, four or five years, to restore Austria's credit rating.

However, an essential condition for the recovery would be that the government debt ratio in Austria is below 90 percent of economic output and the county is resident to shocks that may come primarily from the Eastern European banking system or the economic development.

In general, Kater considered that S&P had paid too little attention to the long-term economic burden from the pension, care and health system while evaluating Austria's credit rating.

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