Skopje, 27th October 2011 (MIA) – Vice Prime Minister and Minister of Finance, Zoran Stavreski, sees the latest credit rating by “Fitch” for Macedonia as stable and with good outlook in future as confirmation for the sound macroeconomic policies of the country, as well as a strong signal for the foreign investors.


– Latest rating of Macedonia is to be welcomed and I can say that this is one more affirmation that macroeconomic bases and policies in Macedonia are sound and different from the ones in the neighbouring countries, in Greece and in the other European countries which are facing real problems, Minister Stavreski said.


He added that the main reasons for “Fitch” to reaffirm the credit rating of Macedonia as stable were the sound fiscal policy, maintenance of low level of budget deficit and low government debt. As well as the sound banking sector, i.e. stability of the banking sector and the outlook of Macedonia, i.e. the economic growth of Macedonia which, as he underlined, was sound even in the present conditions and was envisaged to be stable in future as well.


According to the Minister, this was one more strong signal to the foreign investors that Macedonia was a country which they have confidence in and could be assured of sound macroeconomic policies in future as well.


– Affirmation of the credit rating is in times when this Credit Rating Agency downgraded the rating of more than 10 European countries, among which Spain, Portugal, Slovenia, Ireland, etc., indicating that the Agency makes a distinction between Macedonia and the policies in Macedonia and the other countries and I think the investors will know to make distinction too, i.e. to continue having confidence in our country, Stavreski underlined.


Such credit rating affirmation, according to him, could also help the future plans for securing financial resources from abroad.


– Taking this rating into account, as well as the recent results in the Doing Business Report, there are good prospects for Macedonia to be provided financial resources in future under conditions more favourable than the ones provided to the other countries, Minister of Finance said, adding that it would also contribute to lower interest rate on the necessary financial resources.


Yesterday, International Credit Rating Agency “Fitch” affirmed fiscal stability in Macedonia, by keeping the credit rating at “BB+” and envisaging stable outlook as regards both foreign currency and local currency.


Comments are closed.