For Standard & Poor’s Liechtenstein is a triple A country
In its report of 31 May 2021 the agency S&P Global confirmed the rating of the Principality with the highest rating expected on account of the high level of stability
In its periodic report the rating agency Standard & Poor’s acknowledged the positive result of the 2020 national accounts and the good financial position of the public budgets of the Principality of Liechtenstein. The latter would provide the necessary room for manoeuvre for the country, especially in difficult times.
The economy of the tiny Alpine state shows a high degree of resilience, as evidenced by the low increase in the unemployment rate despite the COVID 19 pandemic.
In this respect the state’s support services for the population and the quality of administrative action of the Vaduz government were having a positive effect.
Professional titles more equivalent between Switzerland and Germany
Economic slowdown due to pandemic alone
After the slowdown due to the pandemic, the rating agency expects the economy to recover significantly.
The analysts of the New York-based agency also expect a positive development for the state budget in the coming years.
The great importance of Liechtenstein’s active and forward-looking policy is once again underlined.
S&P Global is of the opinion that under these conditions the monarchy governed by Prince Hans Adam II is well equipped for future tasks and can maintain its strong fiscal and economic position.
Head of government Daniel Risch is very pleased with the renewed recognition of the highest rating by the Big Apple-based rating agency. He recalled how the rating confirmed Liechtenstein’s attractiveness as a safe and stable economic location.
Thanks to its sound budgetary policy, the Principality has provided comprehensive support to the population and businesses to mitigate the economic consequences of the COVID 19 pandemic, and a good starting position has been created for further stages of recovery.
Summary of the centenary love between Switzerland and Liechtenstein
Exceptionally high tax revenue at the end of 2020
It should not be forgotten that the Principality benefited from exceptionally high one-off tax revenues and a good overall performance last year, as Standard & Poor’s points out in its report.
Therefore, permanent efforts and further developments are necessary to take advantage of the good starting position for the future.
A balanced national account ensures the necessary room for manoeuvre and underlines Liechtenstein’s excellent position in international comparison.
Switzerland and Liechtenstein in full agreement about the future
