24th August 2021, Skopje – Affirming the credit rating is based on the fact that the measures have cushioned the crisis impact. Throughout the year, our economy, as per our projections as well, will recover, i.e. economic result and GDP growth will be registered. Fiscal framework, as well as sustainable fiscal policies and economic measures, have contributed to affirming the credit rating, Minister of Finance, Fatmir Besimi commented on S&P affirming the credit rating of the Republic of North Macedonia in a statement for Sitel TV.
As regards the risks, Besimi said that one of them is of non-economic nature, i.e. resurgence of the pandemic, while the second one pertains to the EU accession perspective and the start of the negotiations, with its effect on investments. Starting the negotiations and the reform activities are expected to contribute to the credit rating improvement.
Stable outlook, as noted in S&P report on the Republic of North Macedonia, reflects the expectations that the projected economic recovery will help curb fiscal and external deficits over the coming year.
S&P also noted they could raise the ratings if continued structural reforms strengthened the sovereign’s institutional arrangements while preserving sustainable fiscal policies.
Our country’s EU accession aspirations could remain an anchor for such institutional improvements and structural reform progress.