The American company for financial research and analysis, Standard and Poor’s, has affirmed that Macedonia’s credit rating is BB-, with a stable outlook, announced today the Ministry of Finance.
The confirmation of the stable outlook, as stated in the press release, reflects the Standard and Poor’s observations for the balance between the risks from Macedonia’s rising public debt and remaining political uncertainty over the next 12 months, on one hand, and the country’s favorable economic prospects, on the other.
According to the report, the economic growth for 2017, has been revised by 1% predominantly because of the effects of the political crisis on the negative movements of the GDP in the first half of the year and the postponement of a part of the public and private investments.
“Standard and Poor’s” has stated in its report that there might come to an improvement of the ratings if the reforms that are directed towards economic growth will result in a higher income rise, a higher effectiveness and accountability of the public institutions and the process of leading policies. Contrary to this, the return of political tensions might contribute to the worsening of the credit ratings.