Russia second in Bloomberg rating of economies expected to beat expectations in 2021

Bloomberg analysts have placed Russia second in its ranking of developing markets with the brightest outlook for the economy for the next year, the study of 17 emerging countries reveals.

According to the report, based on 11 indicators of economic and financial performance, the Russian economy will be among the leaders next year, thanks to robust external accounts and a strong fiscal profile, in addition to an undervalued ruble.

Russia could reportedly boast the lowest government debt burden among the listed states. Moreover, the analysts expect the country’s GDP to grow about three percent.

The report also highlights the countries in the rating that managed to take necessary and well-timed steps during the Covid-19 pandemic.

Thanks to the solid international reserves and high potential for portfolio inflows Thailand topped the Bloomberg list, while South Korea came in third.

Despite impressive projected economic growth China came in last because of the vast share of state debt and small-scale Forex reserves. Brazil was rated second to last due to a mounting fiscal deficit and debt concerns as well.

The assessment was focused on such factors as GDP outlook, external debt, gold, and foreign currency reserves, share of international investments, real interest rate and other factors.

For more stories on economy & finance visit RT's business section