The Republic of Macedonia has maintained its “BB+” credit rating with a stable outlook, as confirmed in the latest report by the “Fitch” credit rating agency. This rating retention is attributed to the successful implementation of well-designed, credible, and consistent macroeconomic and financial policies, including a fixed exchange rate. This achievement is notable, considering global challenges such as the technical recession in Germany and the ongoing conflict in Ukraine.

According to “Fitch,” fiscal consolidation has strengthened due to the government’s continuous efforts in managing public finances, the implementation of fiscal rules, and the establishment of the Fiscal Council in line with the new Budget Law.

Inflation has been brought down to a single-digit level, and “Fitch” expects further reductions in 2024, partly due to measures like freezing food prices and managing price expectations.

A positive credit rating has a beneficial impact on investment decisions within a country, subsequently contributing to increased economic growth, exports, employment, and wages.