Skopje, 17th October 2013 (MIA) – The Government is satisfied with the affirmation of the credit rating of the Republic of Macedonia by Fitch credit rating agency. According to Deputy Prime Minister and Minister of Finance, Zoran Stavreski, this speaks in favour of the economic policies of the country, being a good signal to foreign investors.
– Very few countries in this economic climate have obtained affirmation of the credit rating, which is important since it sends strong signal to foreign investors about the fact that the Republic of Macedonia is a country, which according to the rating of the international rating agencies, has macroeconomic fiscal stability and appropriate conditions for investing. In addition, the rating also sends signal to the banking institutions, investment funds and all those that, should participate, in future in purchasing government bonds if issued, that the Republic of Macedonia is a country with sound macroeconomic indicators, being different than the regional countries, which have much higher indebtedness level and much lower growth rates, Stavreski said at today’s press conference.
He went on that the ranking by Fitch is based upon the improved projections for the economic growth of the country and the moderate budget deficits. Minister pointed out that Fitch concluded that Macedonian economy is recovering to a greater extent than the expected one and that the growth for this year is expected to account for 2.7%. Strong side, according to Fitch is also the low level of indebtedness, being below 34% of GDP.
Fitch credit rating agency yesterday confirmed the fiscal stability of Macedonia and retained the credit rating of the country to stable “BB+”. Minister pointed out that in the first six months of this year, the international agencies reduced the credit rating of Great Britain, the Netherlands and Italy. As for the region, the credit rating of Croatia, Slovenia and Cyprus was decreased.