D&B assigns DB3d credit rating to Croatia.

By bne IntelliNews August 20, 2010
The international credit rating agency Dun & Bradstreet (D&B) assigned DB3d credit rating, which placed the country among the countries with slight risk and with stable ratings trends. The report stressed that the economy had contracted for the fifth consecutive quarter, reporting a 2.5% y/y drop of GDP in Q1. Private consumption narrowed by real 4.1% y/y, while public consumption declined by real 1.1% y/y. D&B expects a fragile recovery in the second half of the year. The projected GDP growth for 2010 stands at 0.5% y/y. The agency warned that the fiscal deficit increased to EUR 1bn in H1, while the full-year plan is EUR 1.2bn. The agency advised the government had to speed up the implementation of the economic recovery program.

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