CROATIA: FITCH RATINGS REAFFIRMS CROATIA’S BBB+ CREDIT RATING WITH ‘Stable Outlook’
The international credit ratings agency Fitch Ratings announced Friday evening that it has reaffirmed Croatia’s credit rating at BBB+ with a ‘stable’ outlook for further growth – which is the same credit rating in the previous Fitch Ratings report from July 2022 when it upgraded the rating from a BBB to BBB+ rating, Croatian media report. And Fitch has also revised upwards its forecast of the Croatian gross domestic product (GDP) growth rate for full-year 2022 from 3.3% to 6.1%, and predicted GDP growth of only 1.1% in 2023. Fitch also emphasized the importance of Croatia’s upcoming entry to the euro zone, and the Government’s measures to assist both citizens and the private sector in the context of resilience to the external shocks and crises, HRT reports. The Government notes in its press statement that Fitch Ratings had commented on the significant progress made in implementation of the National Recovery and Resilience Program (NPOO), which will secure a significant inflow of funding to Croatia. Fitch also praised the Government’s commitment to reforms, especially in healthcare, education and fiscal decentralization. This latest Fitch Ratings assessment is based, amongst other factors, on the Government’s management of the State Budget and reduction of the public debt expressed as a percentage of the GDP. The agency predicts the public debt to fall to 70.5% of the GDP by the end of 2022, and 66.8% by the end of 2024. (ICE ZAGABRIA)
Fonte notizia: VECERNJI LIST, 31.10.2022.