Expert: a solution to Fitch’s rating of Russia will support the ruble

© RIA Novosti / Vladimir Traveloperator photosangelina bills in Russia. Archival photoExpert: a solution to Fitch’s rating of Russia will support the ruble© RIA Novosti / Vladimir Traveloperator the image Bank

The increase of the forecast on a sovereign rating of Russia by Agency Fitch carries a positive signal for foreign and Russian investors will maintain their appetite for Russian risk and will provide additional support to the ruble, told RIA Novosti adviser to the Institute of economic development, Nikita Maslennikov.

«For international investors is certainly a positive signal, because he, at least, does not reduce the risk appetite for Russian assets. This means, ceteris paribus some additional support for the national currency. It is a signal to investors: continue to work with Russia, we do not see any reason to put on the red light,» said Maslennikov.

International rating Agency Fitch on Friday improved the Outlook for the rating of Russia to «BBB-» from stable to positive, which corresponds to the lowest rung of investment grade.

«It is primarily the recognition that the Russian economy is on the path of recovery growth, inflation historically low, more or less stable as a whole looks the entire financial system, it is a recognition of the relative success of economic policy in the current year», — the expert believes.

He also drew attention to the fact that Fitch did not see the signs or risk of a large-scale banking crisis in response to recent episodes of individual banks. «Fitch does not see in all this a series of episodes of signs of an impending banking crisis. This is an important diagnosis that will appreciate the and international investors and Russian,» said Maslennikov.

Warning the authorities

However, the expert drew attention to the warning contained in the message Fitch, that although the growth of the Russian economy is recovering, it is weaker than other comparable countries.

Maslennikov said that earlier, the OECD raised its growth forecast for the Russian economy in 2017 from 1.4% to 2% of GDP next year from 1.6% to 2.1% of GDP. Fitch forecasts coincided with the forecast of the OECD.

«It is a signal to Russian authorities that the Russian economy still lags behind potential rate of growth by about 1 percentage point per year. This warning of Russia’s economic authorities about the need to attend to the state of economic policy. Because if this gap persists, Russia will simply lose ground in the global economy», — he explained.

Important messendzh expert saw the release of the Agency that Vladimir Putin saves the chances of re-election as President in March 2018, while not nominated as a candidate.

However, according to him, Fitch analysts drew attention to the uncertainty of the economic program of the government for the period after the elections. «And the international community, and the Russian investment business waiting for a clear economic program, which will emerge after the elections,» said Maslennikov.

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