The North American agency Standard & Poor's improves the expectations and maintains the Principality's rating at BBB/ A-2 - Assesses balanced budgets and policies for alignment with international standards. The rating agency highlights the balanced management that the executive has made of the budget based on a moderate and comparable fiscal framework and on a progressive decrease in public debt. Standard and Poor's also values the principality's sound fiscal framework as well as positive economic developments. The government makes a very positive assessment of the rating agency's considerations. The finance minister and spokesperson, Eric Jover, points out that Standard and Poor's evaluation shows that we are "on the right track" both in terms of the work of the executive and the functioning of the Andorran economy. On the positive aspects of which it speaks, such as budgets, Jover values the work done by the former Minister of Finance Jordi Cinca.
A more robust financial sector
The analysis puts on the table the risk presented by the weight of the financial sector within the economy. However, the finance minister emphasizes that the agency values that the trend is positive. "They see that the country's entities make the necessary changes to address the situation within the framework of the EU association agreement," says Jover, who stresses that if they continue to take steps to make a more robust financial sector or diversify the economy "we will be in the good line" Jover also shows the "good rate of economic growth" of Andorra which is reflected in the forecast of GDP growth of 3.2% this year and 3.3% next year. "If we are capable of generating more wealth, we will generate more opportunities" points out Jover, who points out that all the macroeconomic indicators are positive. "The great challenge is to get the family economy, individuals and small businesses to notice the change and see that there is economic growth," he added.