Central Bank: Fitch affirms Serbia's credit rating “B+”
Fitch Ratings has affirmed Serbia's credit rating at “B+” with stable outlooks, the National Bank of Serbia (NBS) said on Monday.
Tuesday, 07.07.2015.
09:19
Central Bank: Fitch affirms Serbia's credit rating “B+”
The rating agency "holds that the Serbian banking sector is liquid and well-capitalised, though the presence of Greek-owned banks in the domestic banking system could pose some risks" and that "the fiscal deficit will continue falling in the coming years. As a result, public debt is expected to decline from 2017 onwards."It is estimated that Serbia remains vulnerable to external shocks, but it is emphasized that FDI inflows cover a large share of the current account deficit.
When it comes to economic activity, Fitch Ratings "expects that fiscal consolidation measures will have short-term negative effects on domestic demand, while a positive contribution is expected from external demand."
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