Robust medium-term growth, broad policy continuity, absorption of substantial EU funds, and still-moderate public debt anchor the rating. Elevated fiscal deficits and external imbalances given high current account deficits are challenges.

EU membership, strong medium-term growth potential and moderate public debt support the ratings. Structural budget and current account deficits and moderate reserve coverage remain rating challenges.

Fiscal consolidation reforms and enhanced political stability drive the Outlook change while structural budget and current account deficits remain core ratings challenges.