NBS: Serbia's credit rating improves, stable prospects

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Standard and Poor's improved from “negative” to “stable” prospects for Serbia’s credit rating improvements for long-term indebtness in local and foreign current and confirmed credit rating of Serbia at level "BB-".

At the same time, Serbia’s credit rating for short-term indebtness at B level has been confirmed.

The Agency estimates that Serbia, as a result of committed implementation of fiscal consolidation measures, decreased deficit of general country in 2015 to 4,1% GDP.

Apart from that, it is expected that the third revision of precautions agreement with IMF ends successfully and that fiscal consolidation and structural reforms will end which will additionally strengthen trust of investors and contribute to public finance sustainability.

NBS outlines in the announcement that Standard and Poor's reports that economic growth in 2015 was mainly managed through investments which what significant increase of foreign direct investments shows.