PRISHTINA – The Credit Rating Agency Fitch Ratings has given the Credit Rating ‘BB-‘ to Kosova, thus marking the first time that the country receives this type of rating as a country. The Credit Rating is a very important indicator that shows a country’s ability to repay its debts, and takes into account the sustainability of fiscal policies, public debt, deficit, economic growth, the banking sector, and the quality of governance, among others.
In the report published on April 19, Fitch Ratings emphasizes in particular the credibility of fiscal policies, the stability and low level of public debt, the low budget deficit, and the stable banking sector as the main reasons that have positively supported their credit rating for Kosova.
According to the report, Fitch Ratings has evaluated the work done by the Government in the field of fiscal policies with the reduction of the budget deficit as well as the continuous increase in tax collection. The agency assesses the low level of public debt, which has fallen to 17% of GDP, as well as the decreasing rate of inflation, which in March touched the level of 2.3%.
In addition to fiscal sustainability as well as a resilient and well-capitalized banking sector, the Agency has also assessed the political stability of the country as a positive factor, due to the fact that the Kurti Government is well positioned to serve the full mandate. The report also evaluates the Government’s work in implementing the necessary reforms and fighting corruption, despite the challenges.
This Credit Rating places Kosova on the world map of serious countries with stable policies, thus further strengthening the country’s position and recognition in the international arena. At the same time, the Credit Rating also serves as a state passport, through which foreign investors will find it easier to be informed about the country’s economic development and financial policies, thus making the process of attracting foreign investments easier for Kosova.
The Credit Evaluation process is supported by USAID within the project for “Investment Promotion and Access to Finance”. This support further strengthens the cooperation that the Republic of Kosova has with USAID and the United States of America.
– Ministry of Finance, Labor and Transfers
The following announcement regarding Kosova’s attainment of a ‘BB-‘ credit rating from Fitch Ratings was provided to the Albanian Business Journal by the Ministry of Finance, Labor and Transfers. This information is provided as a government statement, emphasizing the official nature of the announcement and its significance in the context of Kosova’s economic development.
