Japan Credit Rating Agency JCR with positive forecasts for Macedonia’s credit rating. JCR has affirmed its BB+ rating with stable outlook for Macedonia, i.e. it has confirmed Standard&Poor’s expectations for maintenance of the current credit ability of Macedonia in future.
JCR based its ratings on the results achieved through continuous economic reforms of the Government, prudent fiscal policy and moderate government debt, as well as narrowing of current account deficit and maintenance of the level of foreign exchange reserves to four-month import coverage. Progress the country achieved has also been confirmed in terms of the EU integration process and EC recommendation on opening accession negotiations.
Japan Credit Rating Agency has also noted that unlike many Central and Eastern European countries, Macedonian economy had a rather moderate impact from the global economic and financial turmoil, due to the successful implementation of adequate measures by the Government, lower dependence on external debt, as well as lower exposure to external risks.
Stable credit rating is a good signal to foreign investors interested in investing in the country, and it has positive impact on the borrowing costs for the country on the international financial market, as well as the overall economic and political image of the Republic of Macedonia.