Serbia's credit rating confirmed

Standard & Poor's confirmed Serbia's credit rating on Friday (25 October 2013). The country's BB-/B rating was confirmed despite the negative outlook in the previous report from March 2013. As this American financial services company explained, one of the reasons for this is the commitment of the reshuffled Serbian government to the implementation of an ambitious set of measures for fiscal stabilization and stimulation of the economy.

Improvement of overall macroeconomic stability and structural reforms, primarily when it comes to the Labor Law, are mentioned as particularly important for development of the economy.

Standard & Poor's points out in its report that there may be a decrease in the country's rating if the reforms fail to be implemented in full and give no visible result.

Serbia's Finance Ministry announced in a comment on this report that they expected energetic implementation of measures to lead to an increase in the country's rating in the future.