SAN MARINO – The Secretariat of State for Finance and Budget is proud to announce a significant milestone in the path of stability and economic growth of our country. On 5 June 2026, S&P Global Ratings announced the upgrade of San Marino’s long-term foreign and local currency sovereign ratings from «BBB+» to «A-», confirming its short-term foreign and local currency sovereign ratings at «A-2». This recognition reflects the strength of our fiscal policies and optimism regarding the national economic future. In this context, we expect San Marino to maintain a prudent fiscal policy, fostering a stable economic environment. We are convinced that the implementation of the Association Agreement with the European Union will represent a further element of stability for governance standards and trade, thus supporting our economic growth. This agreement not only facilitates European integration, but also consolidates investor confidence in our economic system. Another crucial factor for San Marino’s resilience is direct access to the Eurosystem’s Central Bank Repo Facility (EUREP). This new liquidity tool, provided by the European Central Bank, allows the Central Bank of San Marino to act more effectively as a lender of last resort, providing necessary liquidity to the economy in the event of a crisis. This measure strengthens our ability to deal with any external shocks, ensuring greater financial stability. The Stable Outlook assigned by S&P reflects a balance between the benefits resulting from the imminent implementation of the Association Agreement and the challenges we still face, particularly in the economic and financial sectors. Although there are external economic and financial risks to consider, our commitment to solid public finances remains constant. The result highlights how the government’s policies, particularly in the energy sector, in debt management, in the implementation of reforms, in attention to spending and in supporting the San Marino economic system, have been effective, timely and prudent. The Secretariat of State for Finance and Budget reiterates its commitment to ensuring a prosperous and sustainable future for San Marino, following responsible fiscal policies and promoting growth economic, underlines the Secretariat for Finance.
