Fitch affirms Serbia at BB

Fitch Ratings said it affirmed Serbia's BB long-term foreign- and local-currency issuer default ratings.

The outlook is stable.

“Serbia's ratings are supported by strong governance, human development and ease of doing business indicators, as well as a strengthened economic policy framework, which has increased confidence that macroeconomic fundamentals have improved,” Fitch said in a news release.

“The ratings are constrained by a track record of low growth, reflecting various structural bottlenecks, and high public and net external debt ratios to GDP.”

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