HDZ rep hopes rating agencies will give some time to new gov't

The chairman of the Croatian Democratic Union  (HDZ) finance committee, Tomislav Coric, said on Tuesday he hoped that the Standard & Poor (S&P) rating agency would "give some space" to the new government to implement the expected changes and only after that consider changing Croatia's credit rating.

"Unfortunately, in the past four years Croatia has seen its credit ratings downgraded twice and negative outlooks, and now it is one of only four economies with negative outlooks regarding their credit ratings," Coric told the press in the HDZ head office while commenting on the new assessment of the country's credit rating by S&P, expected later this week.

He hopes that the new government will be given some time by the credit rating agencies before they start assessing its performance.

Coric was critical of the performance of the outgoing government in the past four years, saying that it was discouraging that during its term Croatia's public debt had skyrocketed and the budget gap had reached some 4.5% of GDP.

Coric neither confirmed nor denied the information that Prime Minister-Designate Tihomir Oreskovic  would soon meet executives from the financial agencies and banks, but welcomed any activity leading to the stability of public finances.

Last update: Tue, 12/01/2016 - 18:16
Author: 

More from Croatia

Croatia's industrial producer prices down for 43 straight months

Croatia's industrial producer prices fell by 2.9% in November 2016 compared with November 2015, continuing their...

Stier for more active OSCE role in SE Europe

Attending the 23rd OSCE Ministerial Council in Hamburg on Thursday, Croatia's Foreign and European Affairs Minister...

Croatian President: Officials should refrain from commenting on Constitutional Court's work

Reacting to a statement by Interior Minister Vlaho Orepic that the Constitutional Court's judges were the biggest...

Kiowa Warrior military helicopters presented

Sixteen Kiowa Warrior military helicopters, procured as part of a project to equip the Croatian Armed Forces with...

EC requests Croatia to amend excise duty on ethyl alcohol

The European Commission on Thursday requested Croatia to amend the reduced excise duty rate for small producers of...