Upgrading of Bulgaria and Serbia

Press release - 14 FEB 2017

EKN has upgraded Bulgaria from country risk category 4 to 3 and Serbia from country risk category 6 to 5.

“Bulgaria joined the EU in 2007 and has been in country risk category 4 since 2009,” says Johan Dahl, Country Analyst at EKN. “The background to the improved country risk category is its positive economic development, with reduced debt quotas relating to GDP and exports.”

“Private consumption is rising and this, together with increasing employment, is driving growth. Growth in GDP has risen from barely one per cent in 2014 to 3.5 per cent in 2015 - a high level that is expected to continue into 2017.”

EKN only sees a handful of export transactions to Bulgaria each year and the outstanding guarantees for exports to the country amount to SEK 40 million.

“Serbia has been classified in country risk category 6 since 2010. In recent years there have been positive developments, with lower debt in terms of both GDP and exports. Serbia is negotiating EU membership and the economy is diversified and has been recovering in recent years,” says Johan Dahl.

EKN has outstanding guarantees totalling SEK 350 million for exports to Serbia.