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21 Aug 2018, Gergana Bencheva, EMIS Editor

Fitch confirms Russia’s “BBB-“ rating with positive outlook

Fitch has decided to confirm Russia's credit rating at “BBB-“, with positive outlook, CEEMarketWatch reported, commenting that the move was expected. Yet, the rating confirmation is regarded as a positive sign for Moscow following the impact of the new US sanctions against it.

The credit agency praised the Russian government’s policies related to inflation targeting as well as its flexible exchange rate and fiscal prudence. Yet, it expects Moscow’s economy growth to remain below 2% in the next three years despite the government’s target of 3.0-3.2%.

In Fitch’s opinion, Russia’s strong external and fiscal balance sheets and credible macroeconomic policies balance its weaker growth prospects and dependence on oil, CEEMarketWatch noted.

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