S&P lifts Russian sovereign outlook to positive from stable - RTRS

Eren Sengezer FXStreet

Standard and Poor's, which currently rates Russia BB+, said on Friday it has raised Russia's sovereign outlook to positive from stable, expecting growth to improve as the country emerges from a two-year recession, as reported by Reuters News.

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We expect GDP growth in Russia will pick up, averaging about 1.7 percent in 2017-2020
We see a lower risk of large capital outflows, therefore moderating external pressures
We might raise Russia's ratings if the economy continued to adapt to the relatively low oil prices

Following the announcement, Russian Economy Minister Maxim Oreshkin said in a statement: "A precondition for the rating to be raised to investment grade this year is the finalization of a plan of structural changes and the start of its implementation.".

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Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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