Moody’s has raised its rating for the Czech Republic by a single rung from A1 to Aa3, citing the country’s improving budget indicators and government reforms designed to strengthen the economy. But it also changed its outlook for the country from positive to stable, while predicting that the government’s indebtedness would fall despite a weakening economy. Moody’s wrote that it’s likely that the government’s deficit should fall below 30 percent of GDP by 2023. Prime minister Andrej Babiš welcomed the news, attributing the improved rating to the country’s working people and entrepreneurs. “We should be proud about this,” he said. “Finally we have it on paper, that things are better.”
