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Fitch confirms the rating of the United States at “AA+” and the outlook “stable”

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The U.S. Department of the Treasury in Washington, DC.

Mladen Antonov | Afp | Getty Images

Ratings agency Fitch on Friday affirmed the United States’ long-term foreign-currency sovereign credit rating at “AA+” with a “stable” outlook.

Fitch forecasts that the country’s gross domestic product growth will slow in 2024, despite its economy’s resilience in the face of rising interest rates.

The U.S. economy grew 2.5% in 2023, partly reflecting further easing of fiscal policy, highlighted by the large general government (GG) deficit in 2023.

Fitch estimated that the GG deficit reached 8.8% of GDP in 2023 and forecast that the GG deficit in 2024 would narrow to 8% of GDP, thanks to increasing revenue growth, decreasing spending and falling of certain significant one-off expenses relating to deposits. insurance in 2023.

“The interest burden will, however, continue to rise given the higher debt burden and the impact of rising rates,” Fitch added.

According to the agency, the outcome of the upcoming presidential and parliamentary elections in November will be important for policymaking and the ability to adopt and implement laws.

In November, Moody’s lowered the country’s credit rating outlook to “negative”, citing large budget deficits and declining debt affordability.

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