Mali:”I’m an optimist after meeting with Standard&Poor’s”

The Deputy Prime Minister and Finance Minister, Sinisa Mali, met in Washington with representatives of the Standard&Poor’s rating agency, after which he stated that he was optimistic about Serbia receiving an investment rating from that agency by the year-end.

“The credit rating is like taking a blood sample to check one’s health, hence the rating agency assesses whether we are healthy enough to be given an investment rating. If we manage to do that, and we are waiting for their next report in October this year, then it will be the icing on the cake, after we have conducted so many reforms in the past 12 years to make our economy to grow, be strong and stable,” Mali said after the meeting which he noted was good and constructive.

If we manage to get an investment rating, that would imply cheaper sources of financing, both for individuals and companies, therefore more investments, new factories, jobs and more money for the Serbian budget”, underlined Mali.

He also reminded that tomorrow he had a meeting with one of the largest rating agencies in the world, Moody’s.

Several days ago, Standard&Poor’s upgraded its outlook on Serbia to positive from stable on improved fiscal and external profile while affirming the country’s ‘BB+/B’ long- and short-term foreign and local currency sovereign credit ratings.

“The positive outlook reflects Serbia’s strong macroeconomic outcomes in 2023 and the possible further improvements in its external and fiscal performance,” S&P said in a statement on Friday, adding it projects the country’s real gross domestic product (GDP) to expand by 3.3% in 2024 and to accelerate to 3.8% on average over 2025-2027.

The rating agency noted Serbia’s transfer and convertibility assessment is ‘BBB-‘.

(Alo, 19.04.2024)

This post is also available in: Italiano

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