Fitch Ratings has affirmed Serbia's Long-Term Issuer Default Ratings (IDRs) at 'BB+' with a Positive Outlook. Serbia's ratings are supported by a consistent macroeconomic policy mix, including a strong commitment to exchange rate stability and prudent fiscal management, strengthened international reserves and high GDP per capita compared with 'BB' peers. Set against these factors are large current account deficits (CAD), significant reliance on external funding and high banking sector euroisation. [....]