Fitch Recognizes Russias Economic Stability By Keeping Rating Unchanged - Minister

MOSCOW (Pakistan Point News / Sputnik - 18th August, 2018) The Russian Finance Ministry welcomes the decision of Fitch Ratings to maintain Russia's issuer default credit rating and considers this a recognition of the countrys economic stability, Finance Minister Anton Siluanov said Friday.

Earlier in the day, Fitch maintained Russia's issuer default credit rating at BBB- with a positive outlook, citing ongoing progress in strengthening the country's economic policy framework.

"We welcome the decision of the Fitch Ratings agency to maintain a positive outlook on Russia's sovereign rating. In the context of volatility in emerging markets, accompanied by constant threats to increase the sanctions pressure on Russia, such a decision of Fitch is recognition of stability of our economy to external shocks and a high assessment of the quality of macroeconomic regulation in Russia," Siluanov said.

He added that as investors confidence in stability and sustainability of the Russian economy would strengthen, the country's sovereign rating would also improve.