MOSCOW, January 16. /TASS/. Affirmed S&P rating on Russia confirms the efficiency of the government’s policies to overcome the unprecedented challenges of 2020, Finance Minister Anton Siluanov told reporters.
S&P affirmed earlier its 'BBB-/A-3' long-and short-term foreign currency and 'BBB/A-2' long-and short-term local currency sovereign credit ratings on Russia. The outlook on the long-term ratings is stable.
"The decision of S&P Global Ratings agency to affirm Russia’s long-term foreign currency credit rating at ‘BBB-’ with stable outlook may be regarded as confirmation of the efficiency of the policies by the government of the Russian Federation to overcome the unprecedented challenges of 2020," he said.
"That is particularly important in a situation when more than half of states across the world faced a rating, its outlook downgrade from at least one of the ‘big three’ agencies last year," Siluanov said.
Last year showed that conservative budget planning and the pursued monetary policy are a cornerstone of the Russian economy’s stability amid external shocks, the minister noted. "Last year starkly illustrated that conservative budget planning, the fiscal rule mechanism and the monetary policy pursued by the Bank of Russia are a cornerstone of the Russian economy’s stability amid external shocks," he said.