Standard & Poor’s reaffirmed the country’s stable credit rating


North Macedonia credit rating BB- with stable outlook has been confirmed.

Projected successful economic recovery and stable economic growth by overcoming the shocks caused by the crisis caused by the Covid-19 pandemic.

Stable credit rating is a positive signal for investors and a clear indicator of their confidence in the Government policies. Increased industrial production in December 2020 is a good indicator of economic recovery.

Forecasts for 2021:

  • Growth drivers: increasing export activity, public consumption and private consumption
  • Projection for economic growth is 3.6%
  • The Republic of North Macedonia is integrated in the global supply chains, especially in the automotive industry. The recovery of the automotive industry, as well as the economies of our largest trading partners like Germany, will contribute to the recovery of our economy as well.
  • The budget deficit will be reduced to 4.9% .The Government will continue to strengthen the fiscal framework, pointing to the new Law on Budgets, which provides for the introduction of fiscal rules and the establishment of the Fiscal Council.
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