Standard & Poor’s affirmed Macedonia’s BB- credit rating. Even though this is considered a junk rating, the Finance Ministry insisted that this is a great result.

This is another confirmation of the positive economic policies conducted by the Government, said Finance Minister Fatmir Besimi and Deputy Finance Minister Dimitar Kovacevski.

Macedonia is relying heavily on lending to paper over the damage of the economic crisis caused by the coronavirus pandemic, and has not been able to escape the recession.