S&P sees Russia’s GDP growth rate reaching 1.8% in 2020

MOSCOW, Jan 20 (PRIME) -- The growth rate of Russia’s gross domestic product (GDP) will increase to 1.8% in 2020, international rating agency S&P Global Ratings said in a statement on January 18.

The agency attributed the forecast to a low base effect and softer monetary and budget policies. The growth rate will remain at a low level in the long-term.

S&P also affirmed Russia’s rating at the investment grade of BBB-/A3 in foreign currency and BBB/A2 in local currency with a stable outlook.

The agency expects the country’s new government to ensure the consistency of Russia’s macroeconomic policy and to continue to adhere to a conservative budget rule approach even at rising expenditure pressure.

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