The international credit rating agency Moody’s has confirmed Bulgaria’s credit rating with a stable outlook, quoted by BNR.

The agency expects to see the economy grow 2.9% this and next year.

Provided the budget is balanced and the government debt reaches pre-crisis levels, Moody’s may raise Bulgaria’s credit rating.

Currently, the forecast of the agency that has drafted the Global Debt Program predict that debt will stand at 23% of the gross domestic product by 2020, given its value exceeding 29% at the end of 2016.

Actions to reduce the current rating could be made in case of resumption of political instability or of deviation from the sound macroeconomic policy underway, as well as in the case of a new distress in  the banking system, Moody’s has commented. Experts say though this is a rather unlikely scenario.