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Slovenia on Saturday said it was confident its newly-adopted action plan would stabilise public finances and lead to an economic recovery, a day after international ratings agency Fitch downgraded the crisis-hit country by one notch.
"The consolidation of public finances will follow the objectives that have been clearly set. We will efficiently carry out all the necessary measures drawn in its stability and reform programs," Slovenia's finance ministry said in a statement in response to the downgrade.
"Once the banks' capital adequacy is reached and companies' debts are cleared we expect a stable macroeconomic environment that will lead to economic recovery already in 2014," it added.
Fitch on Friday cut the nation's main debt rating to 'BBB' from A-, with a negative outlook, saying Slovenia's "macroeconomic and fiscal outlook has deteriorated significantly".
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