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Kosovo for the first time in its history with a credit rating

Fitch rated the country's economy at "BB-"

Apr 20, 2024 19:37 234

Kosovo for the first time in its history with a credit rating  - 1

The Minister of Finance, Labor and Transfers of Kosovo Hekuran Murati announced that the international rating agency "Fitch" (Fitch Ratings) has given Kosovo a credit rating of “BB-”, reported the Albanian edition of Radio Free Europe.

This is the first time that a credit rating has been published for Kosovo. “This credit rating will serve as a passport to Kosovo for any foreign investor who is interested in whether it is worth investing in our country. It will also influence the reduction of financing costs, which will subsequently lead to more financing opportunities for our businesses, Murati said, quoted by BTA.

According to the Kosovo Ministry of Finance, the credit rating given to Kosovo “takes into account the stability of fiscal policies, public debt, (budget) deficit, economic growth, banking sector, quality of governance and others”.

Radio Free Europe notes that many economic, financial, institutional and political factors are taken into account for the credit rating, which is why it also shows whether the country has economic and financial stability.

„This credit rating puts Kosovo on the world map of serious countries with a stable policy, thus further strengthening the country's position and its recognition on the international stage,”, added the Ministry of Finance.

The credit rating for Kosovo is also supported by the United States Agency for International Development (USAID).