http___www.tportal.hr_biznis_gospodarstvo_62466_D-B-Vanjska-rizicnost-Hrvatske.html_1.xml
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Dun&Bradstreet (D&B), an international provider of credit information and credit reports covering over 130 countries, again assigned DB3d country risk indicator to Croatia, which puts it among the countries with slight risk and with stable ratings trends. (D&B), an international provider of credit information and credit reports covering over 130 countries, again assigned DB3d country risk indicator to Croatia, which puts it among the countries with slight risk and with stable ratings trends. According to the D&B latest proprietary payments performance data,, which was carried out by the Zagreb-based Bonline company on Wednesday, 23.5 percent of payment arrived 30 or more days over terms in the year to end Q4 2009. Some 65 percent of payments were paid promptly in the same period, while8.9 percent of payments were paid 60 or more days over terms. The data showed that 2.2 percent of payments were severely delinquent with delays of 120 days or longer. The loan crisis and a reduced profitability of company make payments to foreign partners more difficult for Croatian companies, D&B warned. "With Croatia's economy having contracted sharply in 2009 (we estimate that GDP fell by 5.7 % in real terms while industrial production fell by an average of 9.3 %) there are few signs of a sustained recovery for the economy in the early part of 2010," the report said. The report said that industrial output has continued to languish, with production down 5.5 percent in the first two months of the year, adding that both external and domestic demand remains weak. Croatian companies continue to be reluctant to restock after the unprecedented inventory rundown experienced in 2009, the report said adding that consumers continue to worry about the prospect of job losses (the unemployment rate climbed to 12.2 percent in February - the highest rate since April 2006). "As a result, retail sales remains lacklustre, with sales down by an average of 13.9 % in value terms in 2009," according to D&B. The report also said that after the introduction of unsuccessful anti-recession measures, the Croatian government has concentrated on fiscal consolidation to reassure potential investors ahead of any further moves to tap te international capital markets in 2010. "Instead, the authorities have announced measures designed to increase credit availability to the private sector in a bid to stimulate investment and consumption spending,". the report said. These include the Croatian National Banks incrementally lowering its reserve requirements from 14 to 11 percent, which could release up to HRK 10 billion, the report said, adding that the Croatian Bank for Reconstruction and Development would then enter into co-funding deals with the now more liquid commercial banks, which could release another HRK 2 billion. The report, however, warns that there is always the risk that loans will be granted not just to businesses that experienced financial difficulties owing to the global financial cirises, but also to those that are fundamentally unprofitable. According to latest D&B country reports in the International Risk&Payment Review publication, the credit rating has gone up in Hong Kong, Singapore and Taiwan, but it went down in Latvia and Thailand. In Croatia's neighbourhood, Slovenia has the best rating with the DB2c risk indicator, and is followed by Croatia and Hungary with DB3d. The following countries are Albania (DB4a), Macedonia (DB4b), Serbia (DB4d) and Bosnia-Herzegovina (DB6a). - Sviđa vam se članak? Preporučite ga prijateljima putem ovih servisa: Pošaljite mailom
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Svjetska bonitetna kuća Dun&Bradstreet (D&B) u svojem izvješću za travanj Hrvatskoj i dalje dodjeljuje rejting DB3d, što ju svrstava u zemlje s blagim rizikom poslovanja, prenosi danas zagrebačka agencija Bonline koja je ekskluzivni zastupnik D&B za područje Hrvatske i BiH D&B navodi kako je vanjska rizičnost Hrvatske i dalje relativno visoka zbog kroničnog fiskalnog deficita i deficita tekućeg računa platne bilance koji moraju biti financirani iz godine u godinu, što povećava vanjsku zaduženost. U toj bonitetnoj kući procjenjuju da je ukupni hrvatski vanjski dug u 2009. godini porastao na 60 milijardi američkih dolara i očekuje njegovo povećanje u iduće dvije godine. U izvještaju se prognozira da izravne strane investicije neće unijeti dovoljno kapitala te da će se vlada morati dodatno zadužiti. Dogodi li se da stanje na svjetskom tržištu bude kao što je bilo krajem 2008. godine, Hrvatska bi mogla biti primorana zatražiti pomoć MMF-a To znači dotok svježeg kapitala, ali uz određene uvjete uključujući strožu fiskalnu konsolidacija koja će produljiti ekonomski pad, ocjenjuju u D&B-u. U međuvremenu, kaže se u izvješću, ukupne obveze za servisiranje dugova (glavnica plus kamate na srednjoročne i dugoročne zajmove), porast će sa 49,4 posto ukupnih izvoznih prihoda u 2008. godini, na 60,6 posto do 2011. godine. To će, kako se navodi, povećati izloženost Hrvatske svakom budućem poremećaju na međunarodnom novčanom tržištu, posebno ako banke majke hrvatskih banaka budu osjetile financijske poteškoće. Ipak, rizik od takvog razvoja događaja trenutno je relativno nizak, napominju iz D&B. Pozitivnim D&B ocjenjuje nizak rizik konvertibilnosti koji ostaje i dalje nizak zbog intervencija HNB-a koji održava stabilnost kune u odnosu na euro. D&B i u izvješću za travanj navodi da je 23,5 posto plaćanja hrvatskih poduzeća stranim poduzećima kasnilo više od 30 dana od ugovorenih rokova, 65 posto plaćanja obavljeno je u dogovorenom roku dok je 8,9 posto plaćeno sa 60 ili više dana zakašnjenja od ugovorenog roka. Više od 120 dana kasnilo je 2,2 posto plaćanja. D&B i dalje preporuča stranim investitorima da poslovanje s hrvatskim poduzećima osiguraju akreditivom Zbog kreditne krize i smanjenja profitabilnosti poduzeća, plaćanje stranim partnerima i dalje ostaje izazov za hrvatska poduzeća, smatraju u D&B-u. Po podacima iz najnovije D&B-ove publikacije International Risk&Payment Review kreditni rejting se promijenio u šest država: Nizozemskoj, Čileu, Grčkoj, Islandu, Argentini i Gvatemali. U regiji i dalje najviši rejting ima Slovenija (DB2c), a slijede, uz Hrvatsku s rejtingom DB3d, Mađarska (DB3d), Albanija (DB4a), Makedonija (DB4b), Srbija (DB4d) i BiH (DB6a). - Sviđa vam se članak? Preporučite ga prijateljima putem ovih servisa: Pošaljite mailom