Even before taking his seat as Prime Minister, designate Tihomir Orešković demonstrates that improving Croatia’s credit rating will be one of his primary tasks in office.
Thus, the Croatian designate will travel to Kitzbühel, Austria, on Thursday and Friday with the governor of the Croatian National Bank, Boris Vujčić, to attend a closed conference that includes bankers who lend money to Croatia and determine its credit rating. Croatia’s public debt amounts to 297 billion kuna or nearly 90 percent of GDP, and this is an excellent opportunity for designate Orešković to introduce creditors to the first steps he intends to take in curbing the debt.
Additionally, it is important to note that Croatia is expecting a new credit rating assessment from S&P at the end of the week. On this occasion, the president of the HDZ Finance Committee, Tomislav Ćorić, stated on Tuesday that he hopes the credit agency Standard & Poor’s will give the new government and the expected changes “some space” before considering any potential change to Croatia’s credit rating.
– Unfortunately, in the past four years, Croatia has experienced a downgrade in credit rating twice and negative outlooks, and now we are one of four economies in the world with negative outlooks regarding credit rating, Ćorić said.
