To confirm the new Russian government’s positive economic assessment, global credit rating agency Fitch Ratings has revised its outlook on Russia's long-term sovereign rating. The newly formed government of the Russian Federation has predicted sustainable economic growth, primarily by means of the implementation of major national projects. Fitch Ratings has every reason to affirm Russia's long-term sovereign Issuer Default Rating (IDR) at 'BBB' due to rather strong macroeconomic figures and an ability to resist external threats. According to the agency, the key positive rating drivers were the external debt level, which remains among the lowest in the world, and increased public funding. The main risks still stem from the external pressure and the internal political situation. Western sanctions are slowing down Russia's economic development, while the current policy is leading to the capital outflows and scares foreign investors. At the moment, the ratings remain stable, but any deterioration in the relations with the West may force Fitch Ratings to revise its outlook again.
