The Ministry of Finance announced that Moody’s, the global rating agency, has increased Montenegro’s credit rating for the first time since 2013 from B1 to Ba3, upgrading the outlook to stable.
As they note, this agency has confirmed the upgrade of Montenegro’s rating, which is the result of strong medium-term prospects for growth and the improvement of the country’s fiscal stability that came as a consequence of lower public debt and fiscal risks concerning the completion of the Bar-Boljare motorway.
They also add that significant public and private investments, paired with implementing the EU’s structural reforms in the context of a new plan for the WB growth, have fostered mid-term growth projections.
“The upgrade of the credit rating represents the confirmation of stability and progress that Montenegro has achieved, which, according to this renowned rating agency, reflects in the domain of fiscal policy and economic reforms, thus confirming that Montenegro’s becoming a foreseeable and stable environment,” it’s said in a statement.
Considering that Montenegro’s stable outlook reflects its economic resilience, Moody’s expectations, according to the ministry, are that investments would remain the key impetus for growth, particularly considering projects in the tourism and energy sector and transport infrastructure.
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