World Economy

Serbia Outlook Stable

Serbia Outlook StableSerbia Outlook Stable

Fitch Ratings said it has affirmed Serbia’s long-term foreign and local currency Issuer Default Ratings at ‘BB-’, with a stable outlook, seenews reported. “Serbia’s long-term foreign- and local-currency issuer default ratings is affirmed at ‘BB-’ with a Stable Outlook,” the rating agency said in a statement. The country ceiling has been affirmed at ‘BB-’, Fitch said. The short-term foreign- and local-currency IDRs have been affirmed at ‘B’. The issue ratings on short-term bonds have also been affirmed at ‘B’. Fitch said: “Fiscal consolidation continued in 2016, with the general government deficit reaching 1.3% of GDP, a better outcome than the 4.7% deficit planned in the 2015-2017 fiscal strategy.”

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