International rating Agency Moody’s has maintained the credit rating of Russia to speculative Ba1, Outlook negative. About it on Friday. On 22 April, reported on the organization’s website.
As noted in the press release, the key reasons for the confirmation of the rating were the stability of the Russian economy in the context of renewed fall in oil prices, and the effectiveness of the adjustments budget. A negative forecast is made on the basis of a possible decline in budget savings in the context of medium-term forecasts regarding oil prices. In addition, analysts point to a slower implementation of reforms aimed at the consolidation of the budget, reports RIA Novosti.
On 7 April the Bank of Russia Elvira Nabiullina said that the Central Bank intends to gradually phase out international rankings in favor of the Russian
On March 5, Moody’s put Russia’s credit rating Ba1 on review for possible downgrade. Analysts expect raw material prices will remain low in the coming years, which will force the Russian government to look for options for covering the budget deficit.
In the Russian Finance Ministry stated that this decision reflects the need for “adaptation of the budget system to the new realities in the commodities market”. According to the head of Department Anton Siluanov, the government has prepared measures to promptly respond to the evolving economic situation and considering the issue of the medium-term budget balance.
