Russia, China round up joint naval exercise in Baltic SeaMilitary & Defense July 27, 21:27
Chechen leader says he is ready to quit his job to protect al-Aqsa Mosque in JerusalemSociety & Culture July 27, 21:07
Russian tennis star Sharapova granted wildcard for WTA tournament in CincinnatiSport July 27, 20:11
Russia invites Baltic partners to attend naval review in St. PetersburgMilitary & Defense July 27, 19:38
Russia’s new ambassador to Turkey presents his credentials to ErdoganRussian Politics & Diplomacy July 27, 19:03
Deadly wildfires in southern EuropeWorld July 27, 18:20
Russia interested in cooperation with Finland on Arctic environmentBusiness & Economy July 27, 18:14
New US anti-Russia sanctions way to pursue its economic interests with cynicism — PutinRussian Politics & Diplomacy July 27, 18:11
Moscow surgeons separate newborn Siamese twins conjoined at head in 30 minutesSociety & Culture July 27, 17:57
LONDON October 16. /TASS/. Standard & Poor's confirmed Russia’s long-term foreign currency sovereign credit rating at "BB+" level with the negative outlook, the international rating agency said on Friday.
Furthermore, the short-term foreign currency sovereign credit rating is confirmed at "B" level and long-term and short-term national currency ratings are confirmed at "BBB-/A-3" investment level.
Russia’s rating evidences the low state debt level, S&P said. Russia will continue keeping the moderate state debt level in 2015-2018, rater’s specialists said.
At the same time, relatively weak political institutions and economic income and growth prospects will impede the Russian economy's competitiveness and business and investment climates, the international rating agency reported.
"We project Russia's real GDP per capita growth will average less than that of economies with comparable levels of economic wealth over our 2015-2018 rating horizon. We project that the economy will expand by about 0.4% annually in 2015-2018, below the average 2.4% of the previous four years. We see this muted projected growth partly as a legacy of a secular economic slowdown that had already begun before the geopolitical developments in Ukraine. It also reflects a lack of external financing due to the introduction of economic sanctions and the sharp decline in oil prices," S&P said.
S&P also updated its macroeconomic outlook for Russia in 2015-2018. The international rating agency forecasts Russia’s GDP decline by 3.6% in 2015 but expects it will grow 0.3% in 2016, 1.8% in 2017, and 1.2% in 2018.
Russia’s inflation at 2015 year-end will be 15% and the budget deficit is expected to be 4.4%, S&P said.