Vujčić on rating upgrade: Croatia on the right track, continue with reforms

The Governor of the Croatian National Bank (CNB), Boris Vujčić, stated that the latest S&P credit rating upgrade means recognition of macroeconomic policy and that Croatia is on a "good track", but also that it must continue with structural reforms.

“The new upgrade of Croatia's rating is very good because it further strengthens confidence among investors. Now we have truly entered the group of countries with the highest ratings and this is primarily recognition of good macroeconomic policy and the good forecasts that we have for continued growth in Croatia this year,” said Boris Vujčić after a student debate at the CNB, held this year on the occasion of World and European Money Week.

However, he stressed that work must continue on reforms, primarily structural ones, in order to strengthen the long-term perspective of Croatia's economic growth.

“As for structural matters, there is a whole series of reforms that we have been talking about for years, some have been completed to some extent, some still remain,” said Vujčić.

“However,” the governor pointed out, “rating agencies say that Croatia is on the right track.”

Among other things to take into account, Vujčić said that the "fiscal situation" needs to be kept under control, which is also emphasized by the rating agencies.

We recall that the credit rating agency Standard & Poor's (S&P) in its latest report published on Friday evening raised Croatia's investment credit rating from A- to A, with a stable outlook.

Source: HRT