The Ministry of Finance announced that the credit rating agency S&P Global Ratings has improved Serbia’s credit rating to BBB-, moving Serbia to investment grade for the first time in history.
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S&P improves Serbia’s credit rating to investment grade
Belgrade,
5 October 2024
S&P assigned a stable outlook for a further ratings upgrade while Serbia's short-term foreign and local currency credit rating has been increased from B to A-3.
First Deputy Prime Minister and Minister of Finance Siniša Mali pointed out that this will lead to additional inflows of foreign investments and significantly lower borrowing costs on the capital market.
The final effect will be faster economic growth, higher employment, new factories and new jobs, increased salaries and pensions, and consequently an even better quality of life for the citizens of Serbia, Mali concluded.
S&P’s report states that the decision was made against the backdrop of Serbia’s favourable macroeconomic prospects and increased resilience to external shocks thanks to the responsible economic policy conduct, which is expected to continue in the years ahead.
Author:
Tanjug
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