Standard & Poor's Ratings Services affirmed its 'BB-' long- and short-term foreign and local currency sovereign credit rating on the Republic of Macedonia and the country's stable outlook.

The affirmed credit rating is based on the moderate level of public and external debt, as well as the prospect of average economic growth of about 3.4 percent of the GDP, as a result of the stable inflow of foreign direct investments.

Macedonia's stable credit rating is a significant indicator for foreign investors, having favorable impact on the country's attractiveness on the international capital market and its overall economic and political image. the Ministry of Finance said in a press release on Saturday.

Furthermore, the affirmed credit rating is yet another strong message for foreign investors that Macedonia is a trustworthy country, which will keep promoting sound economic policies in the future.

This year Standard & Poor's has downgraded the credit ratings of several countries, such as Russia, Turkey, Croatia, Serbia, Slovenia and Bulgaria. Hence, the affirmed credit rating of Macedonia is yet another confirmation of the country's sound economic policies, the press release reads.