Russia’s economics inspires international confidence

Fitch has rated Russia as the country with stabile economics

In brief: Russian economics is going to improve.

International rating agency Fitch has followed Standard & Poor’s in changing its forecast of Russia’s rate from negative to stabile one and also has confirmed long-term issuer default ratings in foreign and local currency ‘BBB’. Short-term rating in foreign currency has been confirmed on ‘F3’ level.

The head of Fitch’s ratings department Edward Parker has said that changing Russia’s forecast to the stabile position reflects the increasing of Fitch’s trust in Russia’s economics and financial stability. The decision to review the forecast has been caused by improving of Russian economics such as recovery in oil prices, the resumption of private capital flows and economic activity, reducing inflation and risks to the banking sector, as well as lower-than-expected budget deficit in 2009.

Maria Velikanova
2010-01-23 18:28, Society.

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