ZAGREB, Jan 7 (Hina) - Croatia's credit rating, which has remained the same for a few moths, is still DB4d for January, according to a report of the Dun & Bradstreet (D&B) company which the Zagreb-based "BonLine" firm for business
information released on Tuesday.
ZAGREB, Jan 7 (Hina) - Croatia's credit rating, which has remained
the same for a few moths, is still DB4d for January, according to a
report of the Dun & Bradstreet (D&B) company which the Zagreb-based
"BonLine" firm for business information released on Tuesday. #L#
According to the latest report, Croatia's risk outlook was marked
by the strained relations between the Croatian government and the
Hague based UN tribunal (ICTY). "Symptomatic of this, the British
government has decided to postpone the ratification of Croatia's
Stabilisation and Association Agreement with the EU until this
matter is concluded," the report read.
Concerning major economic events from December, the report points
to the parliament's adoption of the state budget for 2003, the
target which is to have the deficit of five percent of the Gross
Domestic Product. This target is in compliance with conditions set
by the International Monetary Fund, and makes it possible for
Zagreb to sign with the IMF a new stand-by arrangement this January.
The new stand-by arrangement, according to D&B analysts, helps
boost "investor confidence in the country".
"However, given the growing proximity of a general election, to be
held in Jan. '04, D&B expects the budget deficit to reach 5.3% of GDP
in '03," read the report.
The mark DB4d means moderate risk but also significant uncertainty
over expected returns from invested funds.
Top at the standing are Hungary and Slovenia with the best credit
rating and the DB2d mark.
At the bottom with the mark DB6d are several eastern European
countries including Albania, Belarus, Bosnia-Herzegovina,
Georgia, Tajikistan, Turkmenistan, Uzbekistan and Yugoslavia.
(hina) ms