Fitch confirms Croatia’s credit rating

The Fitch Ratings agency confirmed Croatia’s current credit rating at BBB-.

Minister of Economy Radimir Cacic said that the affirmation of Croatia’s credit rating was a huge success. “This is more than any government in Europe got to date. Nobody got a rating increase”, Cacic told reporters.

Finance Minister Slavko Linic said the affirmation of Croatia’s credit rating by the Fitch Ratings agency supported the measures the government had taken and intended to take. Fitch’s assessment shows faith that the government can do something through changes but also huge expectations, meaning there is no continuation of government policy without reform and structural changes.

The Fitch also confirmed the country’s negative outlook noting that the country needs additional measures of fiscal consolidation and structural reforms in order to boost economic growth and stabilize public finances.

Croatia’s current credit rating is at the bottom investment status level.