Fitch credit rating agency reaffirmed on Friday Croatia's 'BBB+' credit rating, the highest to date, with a positive outlook, with the Croatian Ministry of Finance pointing out in a subsequent statement issued on Friday evening that the credit rating highlights the country's economic resilience, prudent fiscal policy, and successful integration into the European Union (EU) and eurozone, Croatian media report.   “By the end of 2023, Croatia's real gross domestic product (GDP) was almost 16% higher compared to the level before the pandemic in 4Q2019. Economic growth is expected to average 3.2% during 2024-2025, while the eurozone average is estimated at 1.1%. High nominal GDP growth and prudent fiscal policy have led to a significant reduction in public debt,” according to Fitch's statement, expecting a further reduction in the public debt to GDP ratio in the coming years, HRT reports.  Fitch also notes that the positive outlooks reflect Croatia's resilience to recent external shocks, with high nominal GDP growth and prudent fiscal policy leading to a significant reduction in public debt as a percentage of GDP. Fitch also noted Croatia's success among EU countries in drawing funds from the Recovery and Resilience Facility (RRF), with rapid progress in implementing reforms contained in the National Recovery and Resilience Plan (NPOO) resulting in Croatia already receiving more than half of its total grant allocation. Fitch further states that the implementation of projects financed by EU funds, combined with structural reforms, could boost potential growth and further accelerate economic convergence with the EU average. (ICE ZAGABRIA)

Fonte notizia: Poslovni dnevnik, 08.04.2024.