SKOPJE, June 15 (Xinhua) -- North Macedonia's economy is moving to the right direction and this is confirmed by the positive upgrading rating from "BB" to "BB+" by the Fitch international credit rating agency, according to the country's Finance Ministry on Saturday.
Finance Minister Dragan Tevdovski told a press conference that the last time the country's economy credit rating increased was in 2006, and this increase confirmed the successful government policies.
The Fitch rating agency elevated the country's credit rating in its latest report published on Friday.
The minister noted that the "Fitch report said that positive steps have been taken with regard to the country's Euro-Atlantic integration bid and recognizes the country's well-established fiscal policy."
According to the Fitch report, North Macedonia has managed to maintain its currency stability over a longer period of time and has improved its governance and human resource management.
Moreover, the Fitch agency forecasts an acceleration of North Macedonia's Gross Domestic Product (GDP) growth to 3.4 percent in 2019 and 3.6 percent in 2020, from 2.7 percent in 2018 and just 0.2 percent in 2017. The growth is relatively broad-based and boosted by a recovery in domestic investment, alongside sustained private consumption growth, according to the report.
