Moody’s: Netherlands, Belgium outlook raised

WASHINGTON: Moody’s raised its credit outlook for the Netherlands and Belgium on Friday, elevating both to stable from negative as the Eurozone economy improves. The Netherlands kept its top-level AAA rating, while Belgium was three levels down at AA3. Moody’s said the Netherlands outlook improved because it was less likely to be called on to help fund rescues of weaker Eurozone countries, including troubled Italy and Spain. It also said there were signs that the country’s own domestic problems, such as weak growth and high household debt, have peaked and are likely to evolve in a positive direction. In addition, Moody’s said, the country’s fiscal situation has stabilised. Although the politics of negotiating fiscal consolidation have recently been somewhat more challenging in the Netherlands, this has not prevented the country from implementing significant fiscal consolidation. For Belgium, the government would have to shoulder more liabilities in the weak banking sector had declined.

Published in The Express Tribune, March 9^th, 2015.

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