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Sanader: Raising of Croatia's credit rating reaffirms government macroeconomic policy

Autor: ;vmic;
ZAGREB, Feb 23 (Hina) - The upgrading of Croatia's investment riskrating by the international credit rating agency Dun & Bradstreetreaffirms that the Croatian government is running its macroeconomicpolicy appropriately, Prime Minister Ivo Sanader said at a governmentsession in Bjelovar, 80 kilometres northeast of Zagreb, on Thursday.
ZAGREB, Feb 23 (Hina) - The upgrading of Croatia's investment risk rating by the international credit rating agency Dun & Bradstreet reaffirms that the Croatian government is running its macroeconomic policy appropriately, Prime Minister Ivo Sanader said at a government session in Bjelovar, 80 kilometres northeast of Zagreb, on Thursday.

Earlier this week the Dun & Bradstreet agency raised Croatia's rating from DB4d to DB4c, whereby Croatia edged up one position to the number 10 spot on the list of 25 transition countries after a full five years.

"Croatia is still classified as a country with a moderate risk of investment, but we want to reduce that risk to a minimum," the prime minister said.

Sanader said that the raising of the rating was the result of an increase in Gross Domestic Product, which grew 5.2 per cent in the third quarter of 2005, the highest GDP growth rate since 2002.

"It is extremely important that today there is confidence in Croatia, that it is a country attractive for investment," he said.

Speaking of the results of incentives to small and medium-sized enterprises, Sanader said that the Total Entrepreneurial Activity (TEA) index had increased from 3.4 in 2003 to 6.11 in the first half of 2005, and that on a list of countries covered by the Global Entrepreneurship Monitor (GEM) project Croatia had advanced from 37th to 18th place.

The prime minister announced that a draft version of the government's anti-corruption strategy would be formally presented at the National Academy of Arts and Sciences on 10 March.

(Hina) vm

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