S&P Global Ratings has confirmed Germany's long-term AAA credit ratings with a stable outlook, while its short-term ratings remain at A-1+. Despite the slowdown in economic growth and the growing budget deficit, Germany retains the strengths of its credit profile: moderate public debt, a developed economy and the most stable external balance among the world's largest economies. The new budget package is projected to raise the budget deficit to more than 3.5% of GDP by 2027, which is almost three times higher than the previous forecast of 1.3% of GDP. However, additional investments can help the country overcome the current crisis. Trade with the United States, Germany's largest export market, remains a serious risk. Disruption of international flows, for example, through the imposition of tariffs, can significantly affect a country's export-oriented economy. The stable outlook reflects confidence that external advantages, economic diversification, and institutional efficiency will continue to support Germany's creditworthiness.
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