11.01 | 13:27
The site rating agency Fitch was reported lowered the long-term sovereign rating of Russia’s foreign and local currency.
This message is motivated by a sharp drop in the ruble and oil prices, and rapidly rising key interest rate to 17%. Negative impact on the Russian economy continues to have Western sanctions, closed to Russian banks and state corporations access to external capital markets, says agency Fitch.
Fitch expects a further reduction of the Russian economy by 4%, which would entail a reduction in consumer activity and investment flows.
According to the forecast of the rating agencies, in 2015 Russia’s budget deficit will be 3.7% of GDP, and inflation by the end of this year could reach 8,5%.
At the conclusion of the agency Fitch, the credit rating of Russia on the verge of “BBB”, the so-called “junk level.” In case of breaking this level is even lower, Russia would be a dangerous and risky investment.
Fitch forecasts coincided with forecasts of experts Societe General. At the end of 2014 another major rating agency, Standard & amp; Poor’s, also put Russia at ‘BBB’ with a negative further development.
According to the agency Bloomberg, the probability of default on government bonds Russia is very high. To date, the country is in fifth place in the list of countries with a high risk of default. Above are Lebanon, Egypt and Portugal.
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