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Business / Finance

Reuters: Yudaeva sees the chance to raise the rating of Russia next year

Banki.ru: monitoring of the banking press 19.09.2017 at 06:04

Banking and financial news on the website Banki.ru

MOSCOW (Reuters) — the First Deputy Chairman of the Russian Central Bank Ksenia Yudaeva hopes that the program of improvement of structure of economy towards which the government will increase Russia's chances to raise the international credit rating and does not exclude that it can happen next year.

on Friday, the international rating Agency Standard & Poor's affirmed long-term rating of Russia in foreign currency at level "BB+" local — level "BBB-/A-3" with a positive Outlook. The Agency does not rule out the possibility that the rating could be upgraded if the economic recovery continues.

"on the Basis of the message, it was due to the fact that the growth rate is not high enough, and in principle, the growth rate is now close to the potential... the question, rather, is that the right structural reforms," said Yudaeva TV Reuters at the annual summit.

the Central Bank estimates potential growth of the Russian economy 1.5-2.0 percent without structural reforms.

"If the authorities will demonstrate that the government has a strategy not only from the point of view of macroeconomic stability, but also from the point of view of improving the structure of the economy, enabling it to steadily grow... we hope that when we demonstrate, and the government is now preparing such a program, then Russia will significantly increase the chance for a rating upgrade," said Yudaeva.

On the question of whether to be elevated in the rankings next year, Yudaeva said:

"I do not exclude that."

Despite the fact that S&P has not raised a rating of Russia to investment grade, interest in ruble assets remains high and the reduction in the rate of the CBR does OFZ bonds less attractive to foreign investors, said Yudaeva.

"foreign investors now slightly above 30 percent. It is actually comparable to many other markets, slightly lower than in the American market or, for example, on the Mexican... Thus, we do not have any special risks to financial stability. However, if we conduct a coherent and predictable policy, and will continue to successfully achieve our inflation target, it will add more stability to the government debt market", — said the first Deputy Chairman.

Andrey OSTROUKH, Elena FABRICHNAYA. Editor Dmitry ANTONOV