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Ministry expects conservative budget policy to upgrade Russia's rating to investment level

September 16, 2016, 20:06 UTC+3

S&P decision to revise Russia’s outlook to stable from negative reflects end of the country's economic adjustment to new external environment

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MOSCOW, September 16. /TASS/. Russia’s Finance Ministry expects the conservative budget policy to facilitate the return of the country’s rating to investment level, the Minister Anton Siluanov said Friday.

"The S&P decision to upgrade its outlook for Russia’s sovereign rating has become the first positive estimate of international rating agencies since September 2010. The decision reflects the non-biased process of finalization of adjustment of the Russian economy to new external conditions. The implementation of the budget consolidation program within the next three years as well as setting new budget rules to back the steady development of the economy independently of fluctuations of the commodity market will facilitate the return of sovereign rating to the area of investment level in the future," he said.


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