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

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