The agency Fitch has upgraded Serbia’s long term foreign currency issuer default ratings from BB to BB+ while declaring its outlook to be stable. Fitch noted that the country’s macroeconomic situation has improved in recent years. ” The government has maintained fiscal discipline following the large consolidation effort that delivered general government surpluses averaging 0.9% of GDP in 2017-2018, from a deficit of 6.2% in 2014.” It praised the country’s success in improving tax revenue collection, nothing that the country ran a 0.7 percent fiscal surplus over the first half of 2019.
