Serbia was upgraded for the first time on October 4, when Standard & Poor’s (S&P) Global Ratings, one of the three major international credit rating companies, upgraded the country’s long-standing BB+ rating to BBB- with a stable outlook. Obtained investment grade rating.
With this rating decision, Serbia becomes the first country in the Western Balkans to achieve investment grade status and the only EU candidate country.
“This is an important moment for Serbia,” President Aleksandar Vučić said. “After almost a decade of efforts, Serbia has reached investment grade status for the first time in history, demonstrating its stability and attractiveness as a destination for global investors.”
Upgrading to investment grade is expected to lower borrowing costs, increase access to international capital markets and increase investor confidence. This is a turning point for Serbia. Serbia has long sought to attract institutional investors, but these are often limited to countries with investment grade ratings.
“There are investors who wanted to invest in Serbia but could not due to rating restrictions. Now we are opening the door to them,” Vučić added.
Finance Minister Sinisa Mari hailed the rating as a “natural confirmation” of Serbia’s strong macroeconomic policies. “This shows that we are on a successful path of continued economic growth and macroeconomic stability,” said Prime Minister Mali.
Prime Minister Milos Vucevic expressed a similar opinion, praising the government’s responsible fiscal management. “This is proof that Serbia is pursuing the right economic policy under President Vucic’s leadership,” Vucevic said.
S&P’s decision follows a decade of steady economic reforms that have transformed Serbia’s economic landscape. The agency’s report highlighted that Serbia’s accelerated growth, lower inflation rate, reduction in current account deficit and record high foreign exchange reserves were the main factors in the decision. The country’s real GDP is projected to reach 3.8% in 2024, supported by strong domestic demand and large-scale infrastructure projects, including preparations for Expo 2027.
“High foreign exchange reserves and diverse foreign direct investments have strengthened Serbia’s ability to weather external shocks,” the report said, adding that these factors reduce risks arising from global economic uncertainties. Ta.
In a broader context, Serbia’s economic outlook appears increasingly positive, with a fairly stable political outlook, institutional support for sound macroeconomic policies, and continued structural reform efforts. . National Bank of Serbia Governor Djorgovanka Tabakovic described the upgrade as a “historic step”, stressing that Serbia has “joined the ranks of particularly important countries on the global investment map”.
Prior to the upgrade, Serbia had been given a BB+ rating by S&P, the same as Fitch, while Moody’s had assigned the country a Ba2 rating, two notches below investment grade.
