Bulgaria's Economy Rating Upgraded : now Best in Balkans

On July 22, 2011 Moody's upgraded the credit rating of Bulgaria from Baa3 to Baa2 with a stable outlook. This is the first increase of the credit rating of Bulgaria in the last 5 years and the level achieved is now the highest since Moody's started grading the country.

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The increase of Moody's rating distinguishes Bulgaria from other countries in the region. While the rating of Greece was dramatically downgraded during recent months, Bulgaria's rating has moved consistently upwards. Romania's rating has not been increased and is now lower than that of Bulgaria.

In fact, Bulgaria currently has the highest grade rating on the Balkan Peninsula, including those of Greece, Romania, Turkey, Serbia, Montenegro, Albania and Bosnia and Herzegovina. What is more, Bulgaria now has a higher rating than the problematic Eurozone and EU members: Portugal, Greece, Ireland, Latvia and Hungary, which is a reversal in the situation of just a few months ago.

This is the beginning of a process for Bulgaria, which – if brought successfully to an end through sound economic policy – should result in increasing the investment trust in the country, despite the problems of the other countries in the region. As Estonia previously managed to set itself apart from the troubles in the other Baltic countries and achieve a fast and stable recovery of investments and economic growth, Bulgaria has the chance to accomplish such developments in the same manner.