Tabakovic: Financial, Price Stability to Continue in Serbia
Fitch Ratings has affirmed Serbia’s rating at BB+ with a stable outlook, which is a notch below investment grade, the National Bank of Serbia announced on Aug. 11.
“The Agency expects foreign currency reserves, which have reached a record level, to continue to grow, and remain at a level that covers over five months of imports of commodities and services for the next two years, which is above average among similarly rated states,” the Bank said in a release.
The report says that the peak of inflation is behind Serbia, and that it is realistic to expect inflation to return to a single-digit rate by the end of the year, owing partly to the central bank's adequate reactions. The central bank also says that Serbia’s international position will improve significantly on the yearly level, as a result of rising exports and lower energy imports.
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