Today, Fitch Ratings revised Macedonia’s Outlook to Stable from Negative. Ratings were improved on the basis of high fiscal discipline, stability of public finances, low level of public debt, as well as recovery of forex reserves to a stable level.


– Macedonia has shown improvements in all these segments, as well as in the general conditions for doing business and, according to Fitch, these segments are rating strengths for Macedonia, Vice Prime Minister and Minister of Finance, Zoran Stavreski, said.


According to him, rating improvement is exceptionally positive news, confirming the efforts by the Government and by all entities in Macedonia to improve economic conditions and to stabilize the economy, also recognized by international rating agencies, such as “Fitch”.


Rating improvement, according to the Minister of Finance, is an important signal to the investors, as well as for reduction of costs in case of issuance of Eurobond in future.


– It sends a strong signal to the investors worldwide. As for those who want to invest, every such change in the outlook to stable shows that the country is a good destination to invest in, Stavreski pointed out.


Every rating improvement, as he underlined, will contribute to reducing the interest margin of the Eurobonds, both the existing one, as well as possible new Eurobonds to be issued in 2011, since, as he pointed out, Macedonia implements sound economic policies and strong basic and fundamental policies not being fully recognized in the Eurobond-related costs so far. In a way, we bear the costs of the crisis in the neighborhood, crisis in a neighboring country and broader in the region.


– Issuance of new Eurobond is certainly an option for the Government and each rating improvement is a good sign thereto, Stavreski said, adding that it remains as one of the most probable option for the years to come.(MIA)


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