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Moody´s Downgrades Croatia
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The U.S. rating agency justifies the downgrade with the “bad economic outlook” and the “inflexible fiscal policy”.
Moody´s Downgrades Croatia / Picture: © Moody's Investors Service, Inc. - Annual Report 2013
For Croatia, this is the second downgrade since December. In mid-December, the rating agency criticized that Croatia does not show enough reform progress. Moreover, S&P underlined that Croatia´s labor market conditions are not flexible enough.
According to Moody´s, Croatia´s financial situation will not improve this year. Although Croatia may leave the recession…
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