As the reasons for its decision, the rating agency cited the country’s strong economic growth, as well as the results of the National Bank of Serbia in maintaining price and financial stability.  We have kept inflation under control for six consecutive years. Over the past six years inflation in Serbia has been kept firmly under control.
For the largest industrialised countries such as the US, UK and Japan, according to the IMF the debt-to-GDP ratio in 2011 ranges from 83 percent in the UK, to 100 percent in the US and 229 percent in Japan. The state of public finances clearly matters for central banks.