MOSCOW, September 20. / TASS /. International rating agency Fitch may increase the credit rating of the Russian Federation onreduction of budget expenditures and convincing medium-term fiscal policy. This is stated in a release from the agency.
According to Fitch experts, the risks to the long-term credit rating of the Russian Federation in foreign currency held at the level of “BBB-” with a “negative outlook”, is now focused on the domestic debt. In addition, in the event of failure of the Russian Federation to recover from the recession and significant deviations from the macro-economic and budgetary purposes, the consequences for Russia will be negative.
“Further commitment to cost containment and the implementation of a credible medium-term fiscal policy can lead to a positive rating action,” – said in a release from the agency.
At the same time, in Fitch’s assessment, budget spending ahead of presidential elections in Russia in March 2018 will be less severe than in 2014-2015.
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