The Standard & Poor’s agency kept Serbia’s credit rating at BB +, with stable prospects for its further increase and obtaining an investment rating, it was announced from the office of the Governor of the National Bank of Serbia, Jorgovanka Tabakovic.
“In its decision, Standard & Poor’s states that Serbia’s credit rating is supported by the credible monetary policy of the National Bank of Serbia and a moderate level of public debt,” it was stated.
These were preconditions for the Serbian economy and citizens to receive aid packages from the state.
The agency also points out that for many years before the outbreak, the National Bank of Serbia kept inflation at a low and stable level below two percent, which was “significantly less” than in the period from 2003 to 2012, when inflation averaged 10 percent.
“Thanks to responsible economic policy in the previous period, we were one of the first central banks in the world to respond by reducing the reference interest rate, which we reduced a total of four times during the previous year – to the lowest level of one percent,” said the Governor.
When it comes to economic growth, that agency announced that the Serbian economy in 2020 recorded a decline of “only one percent”.
As the governor added, Serbia will have high economic growth in the coming years, which will be contributed by the dynamic growth of exports and investments, BizLife reports.
