The three upgrades of credit ratings in just under two weeks show the confidence in our growth and the good prospects for our economy, says Spain's Finance Minister Carlos Cuerpo in a video clip on Instagram and refers to the fact that S&P Global has also recently raised its rating.
The Finance Minister adds that the raised credit ratings can attract more investors. The country's national debt has decreased since the pandemic, but is still just over 102 percent of GDP.
Despite political instability, Spain's economy has been strongly strengthened by, among other things, a strong tourism industry. The strengthened service sector in Europe has contributed to several southern European economies having their credit ratings raised in recent years, while growth has been slower for more industrial economies.
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