Q:
A:
Serbia’s credit rating increased
Belgrade,
16 January 2016
The Ministry of Finance stated that the ratings agency Standard&Poor's revised its outlook on Serbia to stable from negative and affirmed its 'BB-/B' ratings.
Amid signs of modest growth, fueled by investments, the government continues to tackle structural issues in the economy and public sector, the statement said.
The country's long-term economic growth potential, particularly if supported by continued structural reform, supports the ratings.
The agency praised a path of fiscal consolidation that is well anchored by a three-year €1.2 billion standby agreement from the International Monetary Fund (IMF), which the authorities want to treat as a precautionary measure. In the medium term, these steps will put public finances on a more sustainable path and reduce the state's role in the economy.
The agency could raise the ratings if the government perseveres with fiscal consolidation and implements structure reforms, builds a track record of effective economic and fiscal management, and continues Serbia's economic and institutional integration with the EU.
The country's long-term economic growth potential, particularly if supported by continued structural reform, supports the ratings.
The agency praised a path of fiscal consolidation that is well anchored by a three-year €1.2 billion standby agreement from the International Monetary Fund (IMF), which the authorities want to treat as a precautionary measure. In the medium term, these steps will put public finances on a more sustainable path and reduce the state's role in the economy.
The agency could raise the ratings if the government perseveres with fiscal consolidation and implements structure reforms, builds a track record of effective economic and fiscal management, and continues Serbia's economic and institutional integration with the EU.
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