Skopje, 21st March 2014 (MIA) – Affirmation of stable credit rating of Republic of Macedonia by one of the most renowned agencies in the world “Fitch” is an acknowledgment that Macedonian policies are stable, with solid growth rate of economy, driven by construction, high level of capital investments with funds from both the Budget and foreign companies, Deputy Prime Minister and Minister of Finance, Zoran Stavreski said today.
He stressed that it is excellent news since in the past several months alone, Fitch and Standard and Poor’s reduced the credit ratings of several countries in the region as the ones of Croatia, Slovenia and broader such as Ukraine, Russia, Turkey…
– We are satisfied that investors will be given the possibility to hear, for the fifth time, that Fitch has affirmed the credit rating and that Republic of Macedonia implements sound economic policies as a whole. This will also stir up further interest of investors in Macedonia as a destination for new investments and new employments, Stavreski said.
According to him, Fitch observed the moderate level of budget deficit and moderate level of indebtedness of Macedonia, being also a positive thing, whereby their projections are that by the end of 2015 the country will retain its low to moderate level of debt from 36% to 37% of GDP.
– Their rating is that the banking system is also stable and that the business climate of Macedonia is significantly better than any other country with identical credit rating, showing that the reforms we carried out have been affirmed by the World Bank and another renowned global house, Stavreski pointed out. “Fitch” Credit Agency, in its newest report, affirmed the credit rating of the Republic of Macedonia at BB+ stable.