Банкеръ Weekly

Briefs

MOODY'S UPGRADED BULGARIA'S CREDIT RATING

On December 19 the international credit rating agency Moody's upgraded Bulgaria's credit rating from 'B2' to 'B1' with stable outlook. The signing of the two-year arrangement between Bulgaria and the International Monetary Fund (IMF), the budget deficit aggreed with the Fund at 0.8% the the gross domestic product (GDP), the Cabinet's commitment to speed up the reforms, its strategy for swift privatisation and deregulation in the local energy sector, and the new measures to be undertaken in connection with the high state debt, were some of Moody's motives for raising the country's credit rating.

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