The ratings on the Republic of Bulgaria reflect Standard & Poor's Ratings Services' view of: the government's strong track record of appropriate fiscal policy and low gross debt, despite the severe recession; and the country's solid growth prospects in the medium term, particularly if they are backed by improving absorption of EU funds and other benefits stemming from EU membership. Somewhat offsetting these strengths are: relatively low GDP per capita; and large, albeit correcting, external imbalances and related risks, given the adverse economic backdrop. After a 5% contraction in GDP in 2009 and 0.2% growth in 2010, we expect the economy to grow by almost 3% in 2011, mainly on the back of strong export performance. Continuously weak domestic demand...
Companies mentioned in this report are:
- Bulgaria (Republic of)
- Latvia (Republic of)
- Croatia (Republic of)
- Lithuania (Republic of)
- Serbia (Republic of)
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