The Creditreform Rating Agency, with which Slovenia has not concluded a contract on the regular assessment of the country's credit rating, emphasised Slovenia’s diverse economy, which is achieving good results and is in the midst of a strong recovery after the drop caused by the coronavirus. In this way, according to the agency based in Neuss near Düsseldorf, Slovenia can expect further rapprochement with the EU average development level.

Among the risks they see the negative effects of a possible new deterioration of the epidemiological situation on certain service sectors, such as tourism, and the consequences of blockages in supply chains for the Slovenian processing industry.

The medium-term prospects are good in the light of planned reforms and investments, also supported by EU funds, even though in the light of past experience uncertainty remains about its ability to absorb European money and the quality of its project implementation.

Demographic issues remain a challenge for the country's medium-term development if the country does not address them with decisive steps towards a more sustainable pension and healthcare system. While these are not yet recognised in the agency, they see progress in tackling long-term care issues.

The country's institutional framework, strengthened by EU and euro area membership, remains generally strong, according to the agency, and administrative efficiency has improved over recent years. However, in view of this year's elections, the great fragmentation of parliamentary policy is expected to continue, which, according to the agency, creates some uncertainty regarding the stability of the country's leadership and progress in reforms.

The current increase in public debt is expected to decline in a few years as a share of GDP, while good debt management, rich government funds in the Bank of Slovenia account and low borrowing costs mitigate fiscal risks, including the expected future burden of population aging.

As Slovenia is a small and open economy, risks in the external environment are especially important for it. According to the agency, these remain manageable, as the country's balance of payments position is favourable.

Finally, Slovenia's rating was confirmed in December by Fitch, S&P Global and DBR Morningstar. Fitch confirmed the rating at A, S&P Global at AA, and DBRS Morningstar also at A. The outlook for all is stable.