September 15, 2023

S&P Croatia’s credit rating at “BBB+” with positive outlook

Croatia rating

After the Standard & Poor’s agency increased Croatia’s long-term rating to BBB+ in July of last year, with a stable outlook, with the announcement on Friday evening, September 15, the outlook for the long-term rating was revised to positive, which confirms the exceptional progress of Croatia, which is on the verge of moving to a higher level of investment rating A rating.

S&P highlights the effect of the Government’s strong measures to preserve jobs, overcome the energy crisis and economic recovery. They highlighted the quality management of public finances, which was also recorded in the pre-crisis years, which contributes to the improved Croatia credit rating. At the same time, they express confidence in the Government in continuing to implement the reforms outlined in the National Recovery and Resilience Plan. S&P points out that Croatia is withdrawing funds from the EU’s Recovery and Resilience Mechanism in good quality, and so far more than 2.2 billion euros, or more than 40% of the total available grants, have been paid.

S&P predicts that economic growth in Croatia will be faster than in most countries of the euro area.