Standard & Poor’s agency has affirmed our country’s credit rating BB with a stable outlook. The report pays special attention to the monetary policy, focusing on the stability of the domestic currency and the level of foreign reserves, as well as the stability of the banking system.
Among other things, the report noted that the National Bank measures, such as the lower reserve requirement for the bank liabilities denominated in denars, led to a reduction of the total euroization in the country, which is lower than in other economies in the region. The Standard & Poor’s report also separately mentions the growth of foreign reserves during this year, largely reflecting the National Bank’s interventions on the foreign exchange market.
An overview also of the banking system is given, emphasizing its good capitalization and profitability, as well as its funding mainly through domestic deposits. The Agency also gives positive assessments of the credit growth in the country, indicating that there are positive movements, especially in the segment of corporate lending.