NBS: Moody’s improves Serbia’s rating

After Standard & Poor’s and Fitch, the third most renowned rating agency in the world – Moody’s has improved Serbia’s outlook from stable to positive, affirming the ratings at Ba2. The move marks the continuation of positive assessments of macroeconomic developments in Serbia by eminent institutions, as well as estimates of its favorable growth prospects, it is said on the website of the National Bank of Serbia .

In its report, Moody’s emphasizes that the prospects of Serbia’s GDP growth proved to exceed their expectations, attesting to the strength of our economy.

– The fact that all three of the world’s most important rating agencies have improved the outlook for Serbia’s rating in recent months only shows that in the previous years we responded appropriately to all challenges and that, along with mitigating the negative effects of external shocks, we developed our economy and worked on further improvement of the standard of living of all our citizens. Such a policy has produced results, but at the same time it is a guarantee that in the future we will continue to work on preserving overall stability and a favorable investment and business environment, which places us in the group of fast-growing economies – said Governor Tabakovic on the occasion of Moody’s announcing its decision.

Moody’s cites the following key factors behind the decision:

• solid medium-term economic growth prospects, with the possibility that the growth performance will be even faster than expected, driven by the acceleration in investment and further structural reform progress,
• the economy’s reinforced resilience to potential shocks from the international environment,
• the strengthening of public finance owing to prudent fiscal management,
• adequately capitalized and liquid banking sector with sound asset quality.

Narodna banka Srbije Beograd

Standard and Poors

Fitch

Moodys

National Bank of Serbia

NBS

Jorgovanka Tabaković

increase of credit rating of Serbia

credit rating of Serbia

Ba2

economic growth of Serbia

growth of gross domestic product of Serbia

state budget deficit