Fitch Affirms North Macedonia at BB+ With a Stable Outlook. The Country Stays Below Investment Grade
The Finance Ministry says the agency cited growth prospects and reforms tied to the EU path.
Fitch has affirmed North Macedonia's rating at BB+ with a stable outlook. The Finance Ministry released the note. It said the agency pointed to growth prospects, investment activity and reforms tied to the EU path.
BB+ is not investment grade. It sits below the line many funds need before they buy sovereign debt without extra limits. An affirmation means Fitch does not see enough damage for a cut. It does not mean the country has climbed.
A stable outlook is a view of the coming months, not of the decade. If the deficit or political risk around the EU talks worsen, the outlook moves before the rating itself.
What the ministry note leaves out
A full Fitch report usually carries warnings on public debt, the budget gap and external financing. The ministry excerpt keeps the brighter lines. One check for the reader: whether the report also flags vulnerability.
The rating feeds the interest the state pays abroad. Without a figure from the last issuance, do not write that money has become cheaper.
What remains open
The affirmation is good news for the ministry and thin news for anyone who expected a jump toward BBB. Next is Fitch's full text and whether Moody's or S&P move the same way. Until then BB+ is still BB+.
MKNews Hub · Economy · September 13, 2026