Serbia made a historical breakthrough with IG rating

One of the world most credible credit rating agencies Standard and Poor's (S&P) has just released its latest report on the review of Serbian economy, which proved to be a historic moment for our country.

 

We strived for it for almost a decade. Today we can all be proud to announce that Serbia has achieved a significant milestone by being upgraded to a BBB- credit rating, marking our entry into the investment-grade category for the very first time in our history. This is not merely a number/grade; it represents a turning point for our nation's economic trajectory.

 

This upgrade is a watershed moment for Serbia and our businesses. It opens the door to:

 

- lower financing costs,

- greater access to international capital markets and

- increased investor confidence.

 

Serbian companies will from now on be able to attract foreign investments more easily and at more preferable conditions, paving the way for growth, innovation, and job creation across various sectors of our economy.

 

There are international investors who, for several years, would like to invest in Serbia, because of the progress we are making, but their mandates state that they can only invest in investment grade countries. Now we have opened the door to them too.

 

For all economic actors in our country, this IG status enhances the overall business environment. It signals to international investors that Serbia is a stable and attractive destination for investment with low risk or high certainty for conducting investment activities.

 

Serbia stands as the first Western Balkan country, but moreover currently the only EU candidate country that has an investment-grade rating.

 

This credit rating upgrade is a testament to the hard work and resilience of the Serbian people especially in these globally challenging times and the commitment and effort of all Serbian authorities that prove we are running our country wisely toward better life for all our citizens.

 

It is an invitation to the world to invest in Serbia and a promise of a brighter economic future for all. Together, we will build on this momentum and continue to strive for excellence.

 

 

Aleksandar Vučić

President of the Republic of Serbia

 

 

Belgrade,

4th October 2024