Standard&Poor’s affirms Bulgaria’s credit rating, outlook remains positive
The international S&P Global Ratings agency affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on Bulgaria. The outlook was also affirmed and remains positive.
S&P Global Ratings summarises that Bulgaria’s monetary conditions continue to improve, credit conditions support growth, and the country is making steadfast progress on entering the Exchange Rate Mechanism II (ERM II).
The Rating Agency also anticipates robust growth in 2018-2021 on the back of strong private consumption and accelerating investments. The continued absorption of EU funding and the tightening labour market conditions will support productivity over time.
The positive outlook reflects the considerable likelihood that Bulgaria will join the Exchange Rate Mechanism II (ERM II). S&P Global Ratings could raise the ratings on Bulgaria if the Bulgarian lev enters ERM II, which would further support the credibility and effectiveness of monetary policy. For more information about setting up a company in Bulgaria –contact us