As part of the semi-annual review of Liechtenstein's country rating, the international rating agency S&P Global Ratings affirmed the highest rating of AAA with a stable outlook in its research update of 25 November 2024.

According to the rating agency's report, the retention of the highest rating reflects Liechtenstein's healthy financial position together with its high policy effectiveness and prudent regulatory framework. Although economic growth is being hampered by the weak economic recovery in key trading partners, S&P Global Ratings expects Liechtenstein's economy to continue to grow. Due to the small size and openness of its economy and external developments, Liechtenstein is exposed to a certain degree of economic volatility. Nevertheless, its industry and manufacturing with many small and medium-sized enterprises adapts quickly to changing macroeconomic conditions and uncertainties, according to S&P Global Ratings.

S&P Global Ratings welcomed Liechtenstein's accession to the IMF in October of this year. According to the report, membership will provide an additional liquidity buffer in case of need, complementing the country's own liquid reserves. The IMF can also offer technical assistance in compiling, updating, and providing Liechtenstein's foreign trade and economic accounts, as well as statistical information. The rating agency further highlighted that Liechtenstein is gradually implementing its policy agenda to diversify towards sustainable energy sources, including a high level of subsidies to promote energy efficiency. Nevertheless, the country will remain dependent on energy imports. By extending the maintenance of a strategic gas reserve until mid-2027, Liechtenstein will be able to cover two to three winter months.

Prime Minister Daniel Risch expressed great satisfaction with the renewed affirmation of Liechtenstein's triple-A rating by S&P Global Ratings, emphasising that this should not be taken for granted. He stated that the national budget must continue to be carefully managed. Moreover, the country's favourable framework conditions must be preserved and continuously improved, as they form the basis for Liechtenstein's stability and for addressing future challenges.