S&P’s preservation of Russia’s credit rating confirms the effectiveness of the government’s measures to overcome the unprecedented challenges of 2020. The head of the RF Ministry of Finance Anton Siluanov told about it.
Earlier, S&P Global Ratings affirmed Russia’s long-term foreign currency credit rating at ‘BBB-‘ with a stable outlook.
Siluanov noted that such a decision is especially important in a situation where more than half of the world’s states are faced with a rating downgrade in 2020.
The minister also added that last year showed that conservative budget planning and the ongoing monetary policy are the key to the stability of the Russian economy in the face of external shocks.
In July, S&P also affirmed Russia’s sovereign credit rating at BBB- with a stable outlook. The agency noted that a strong political framework, as well as the level of external and internal balance and a flexible exchange rate will help the economy to cope with the shocks.