FYRMacedonia improves credit rating

Rating agency "Fitch" said fyrMacedonia's credit rating has improved from negative into stable, as a result of high fiscal discipline, stability of public finance, low level of public debt, as well as keeping foreign currency reserves at a stable level. "According to 'Fitch', Macedonia has registered improvements in all those segments, as well as general conditions for doing business", said Vice Premier and Finance Minister Zoran Stavreski.

He added the rating's improvement was exceptionally good news, showing that efforts of the Government and all entities for enhancement of economic circumstances and stabilization of the economy have been noted by international rating agencies, such as "Fitch". FinMin Stavreski stressed the rating improvement represented a significant signal to investors, as well as in reducing costs for the future possible issuing of the Euro-bond.

"This is a significant signal for investors worldwide, whereas the positive change in the ratings demonstrates that the country is a favorable destination for investments", said Stavreski. According to him, each rating improvement would help reducing the interest margin of the Euro-bond, since Macedonia possesses sound economic policies, which have not been acknowledged in the country's Euro-bond thus far. "This comes as a result of the crisis in our surrounding, the crisis of a neighboring state and the region in general", underlined Stavreski.

News source: EMG.rs link: article