D&B retains Macedonia credit rating, expects economic growth in 2010.

By bne IntelliNews May 9, 2010
Dun & Bradstreet retained the countrys economic rating at BD4b, but said they expect economic growth in 2010 based on its stable performance in 2009, local media reported using as source Slovenian rating firm I d.o.o. GDP is expected to increase by 1% in 2010 after 1.4% drop in 2009 on higher external demand and better internal financial situation. The significant improvement of the current account in 2009 supported the forex reserves in compensating the previously deteriorating dynamics. The central bank was thus able to decrease the interest rate to 7.5% in February 2010, which would provide room for lending expansion. Imports are expected to remain constant due to lower internal demand and the foreign trade deficit is seen ay 6% of the projected GDP for 2010 against 7% of GDP in 2009.

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