Rating agency revises Serbia's outlook to "positive"

The National Bank of Serbia (NBS) said in a statement on Saturday that the Fitch Ratings agency has revised Serbia's outlook to positive from stable.

Izvor: Tanjug

Monday, 21.12.2015.

12:41

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NBS HQ in Belgrade (Tanjug, file)

Rating agency revises Serbia's outlook to "positive"

The rating agency stated that "the improved outlook is driven by faster-than-expected economic growth, consistent implementation of the fiscal consolidation plan and reduced external imbalance."

Fitch revised the 2015 GDP growth projection from 0 percent to 0.7 percent, the statement said, adding that next year's growth is expected to be at 1.7 percent.

As a result of the implementation of a credible consolidation program, the 2015 fiscal deficit will be considerably below the initially projected 6.3 percent of GDP, and will be at 4.1 percent, the NBS announced.

Continuing the successful implementation of the consolidation program will contribute to sustainability of public finances, the statement said.

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