Адрес:
6 Presnenskaya Emb., 123112 Moscow Russia
Главная \ News \ S&P affirms Russia's sovereign ratings with a stable outlook

S&P affirms Russia's sovereign ratings with a stable outlook

The international rating agency S&P has approved a long-term rating of Russia for liabilities in foreign currency at BBB- with a stable outlook. Long-term local currency rating remains at BBB. According to Russian Finance Minister Anton Siluanov, the S&P decision testifies to the fact that the government ensures macroeconomic stability “against the backdrop of an extremely volatile external environment”.
“The decline in oil prices, the reduction in oil production under the OPEC+ agreement and the negative consequences of the COVID-19 pandemic will lead to a decrease in the Russian economy by 4.8% in 2020. However, a strong policy framework, including a flexible exchange rate, as well as the level of external and internal balance, should allow the economy to cope with these shocks”, ­– said in a statement S&P. The agency believes that Russia's GDP will suffer “less than that of countries with more developed economies”.
Russia's rating has remained at investment grade BBB- since 2018. Before that, since 2015, it was at BB+.
In Russia, the decision of the agency is considered an indicator of the correct actions of the government. “The confirmation of Russia's credit rating at the previous level is evidence that conservative budget planning, inflation targeting policy and strict adherence to the budget rule, the preservation of which was recently confirmed by Russian President Vladimir Putin, allow the Russian economy to successfully absorb external shocks”, Mr. Siluanov told reporters (quote from TASS). According to him, in 80% of cases, international agencies have previously downgraded the ratings of countries-exporters of raw materials or worsened forecasts due to lower oil prices and a slowdown in world economic growth.
Recall that in June the fall in Russia's GDP slowed down and amounted to 6.4% in annual terms, follows from the data of the Ministry of Economy. In May, the department estimated the decline in the Russian economy at 10.9%, in April – at 12%.

 

Source: www.kommersant.ru

News

The most popular investment instruments for Russian citizens are savings accounts in banks, foreign

currency, real estate, life insurance and cryptocurrencies.

The real disposable income of Russians in the third quarter fell by almost 5% after a record drop of

8.4% in the second, Rosstat reported.

In September 2020, the monthly increase in consumer prices (as estimated seasonally adjusted) decreased to 0.25% compared to 0.38% in August, according to the next release of the information and analytical commentary “Dynamics of consumer prices”.

Consumer demand in the first seven months of 2020 in Russia decreased due to the coronavirus pandemic by an average of 6.7% relative to the result of January-July 2019.
Net capital outflow in January-August 2020 increased 1.7 times compared to the data for the same period last year – from $20 billion to $34.8 billion.
MARKET INDICATORS
Retail in Russia
Retail in Russia
Russia and China
Russia and China
The structure of expenses of the population of the Russian Federation
The structure of expenses of the population of the Russian Federation
The structure of expenses of the population of the Russian Federation
The structure of expenses of the population of the Russian Federation
Real estate
Real estate
Real estate Russia
Real estate Russia
Контакты
6 Presnenskaya Emb., 123112 Moscow Russia
Get in touch