icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

S&P maintains Russia’s stable economic outlook despite sanctions and pandemic

S&P maintains Russia’s stable economic outlook despite sanctions and pandemic
Rating agency Standard & Poors (S&P) has confirmed Russia’s foreign currency sovereign credit rating at BBB-/A-3, giving it a stable outlook.

The agency says Russia's external and fiscal balance sheets show strength and are likely to diminish risks to both fiscal and financial stability brought about by the Covid-19 pandemic as well as the prospect of further international sanctions against the country over geopolitical disagreements.

Also on rt.com Russia less reliant on oil & gas as economic recovery in other sectors fuels country’s rapid return to growth, new report reveals

S&P also acknowledged a possible upgrade to Russia’s rating in the case of further GDP growth and the easing of geopolitical risks.

The rating could go up if the country makes steps to curb long-term fiscal pressures from the aging population, as well as if Russia's fiscal buffers exceed the agency’s current expectations, “which could help mitigate commodity-related revenue volatility.

On the down side, the rating could drop if Russia faces further international sanctions, which could lead to capital outflows and financial stability risks. The government's balance sheet could also affect the outlook in the case of its substantial decline.

Also on rt.com EU court says Russia should limit gas supply to Europe

The Russian government said the confirmed rating outlook is a sign that its economic policy has been well managed.

The decision by S&P Global Ratings to affirm Russia’s foreign currency sovereign credit rating is viewed by us as a yet another confirmation that the government’s economic policy is correct,” said Finance Minister Anton Siluanov, noting that the outlook proves “the Russian economy is resilient enough against potential external shocks.”

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

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.