S&P affirms N. Macedonia's foreign, local currency ratings gary yim/Shutterstock.com SKOPJE (North Macedonia), February 22 (SeeNews) – Standard&Poor's said it has affirmed its 'BB-/B' long-term and short-term foreign and local currency sovereign credit ratings on North Macedonia, with a stable outlook. The ratings agency expects the country's economy to grow by 3.6% in 2021, whereas its current account and fiscal deficits are seen narrowing gradually by 2024 as net government debt rises to about 57% of GDP, it said in a statement last week. S&P added it could lower North Macedonia's ratings if fiscal and current account deficits are higher than expected, net government debt continues to rise, external stress grows or the domestic financial system weakens materially.