Fitch affirms Germany at AAA with stable outlook

Fitch affirmed the credit rating of Germany at AAA with a stable outlook on the backdrop of recent improved economic conditions and the stability of the financial system which of course will positively affect the financial system in the euro area as a whole. However, Fitch indicated that government public debt fell less than expected from 605% of GDP at the end of 2019, but it is still higher than the AAA credit rating of 44%.
The German economy, which relies primarily on the export sector, has suffered from weak global demand and a manufacturing sector contraction that may continue throughout the years 2020 and 2021.