Plenković: The third leading agency confirmed Croatia's record high credit rating

Prime Minister Andrej Plenković announced on Wednesday that the world's third leading agency, Moody's Ratings, has confirmed a record high credit rating for Croatia, confirming the resilience of the economy, quality finances and effective implementation of reforms and investments.

“After positive evaluations by S&P Global Ratings and Fitch Ratings and the agency Moody's Ratings, Croatia's record high credit rating has been confirmed,” announced Prime Minister Andrej Plenković on X.

The A3 rating, with a stable outlook, confirms the economy's resilience to crises, quality management of public finances and effective implementation of reforms and investments within the National Recovery and Resilience Plan, the release stated.

The prime minister pointed out that a high credit rating according to three leading world agencies brings to Croatia: greater attractiveness for investors, lower interest rates for citizens and banks, and easier access to financing for entrepreneurs. With lower allocations for interest on public debt, the state has more budget space for investments in the construction of schools and hospitals, the implementation of crisis packages of measures, the growth of wages and pensions.

“We continue to implement policies that strengthen investor confidence and ensure stable economic growth, along with a higher quality of life for our fellow citizens,” said the Prime Minister.

On Friday, the Moody's agency conducted a periodic review of Croatia's rating, confirming the previous rating of A3 with a stable outlook.

Ministry of Finance: Resilience of public finances additionally confirmed

The Moody's agency has confirmed the credit rating of the Republic of Croatia at level A3 with a stable outlook, which further confirms the resilience and credibility of our public finances, the Ministry of Finance announced on Wednesday and highlighted the effective implementation of the National Recovery and Resilience Plan, which contributes to economic growth.

Such a rating level, as they pointed out in a press release, is supported by a moderate state debt load, favorable indicators of its sustainability, and the continuous strengthening of the institutional framework and management quality. They add that effective institutions and commitment to reforms are the key elements that contribute to the further deepening of Croatia's European integration.

“We particularly emphasize the effective implementation of the National Recovery and Resilience Plan, which represents one of our key pillars. Systematic and responsible management of this process not only strengthens the institutional strength of the state, but also directly contributes to economic growth, resilience and long-term fiscal stability. We continue to implement policies that ensure macroeconomic stability, strengthen investor confidence and create the foundations for the sustainable development of the Republic of Croatia,” the Ministry of Finance pointed out.

Source: HRT