The Government of Serbia’s issuer rating and Serbia’s long-term bond and deposit ceilings have been upgraded by Moody’s
Moody’s has upgraded the Government of Serbia’s issuer rating from B1 to Ba3. Serbia’s long-term foreign-currency and local-currency bond and deposit ceilings have also been upgraded.
The outlook revision mainly reflects successful fiscal consolidation and implementation of structural reforms, a better than expected economic growth outlook and ensured price stability, as well as improvements in the institutional framework and progress with the EU accession process.
Moody’s also expects that labour market reforms helped to raise labour participation to 65.6% in 2016. Economic recovery was reflected in a significant rise in private sector employment and a drop in the unemployment rate (from 19.6% at the beginning of 2015 to 13.0% at end of 2016).
Dragana Stijelja
Corporate Actions and Tax Specialist