Fitch Maintains Russia's Sovereign Ratings

(RTTNews) - Fitch Ratings maintained Russia's credit rating at 'BBB-' with a 'stable' outlook on Friday.

The agency said Russia's ratings balance a strong sovereign balance sheet, robust external finances and an improved policy framework against weaker macroeconomic performance in relation to peers, structural weaknesses and geopolitical tensions.

The strengthened policy mix, if successfully executed, could deliver improved macroeconomic stability, fiscal consolidation, reduced dependency on oil revenues and rebuilding of external buffers, Fitch observed.

The rating agency expects the federal government deficit to fall to 2.4 percent of GDP in 2017 and 1.4 percent in 2018, from 3.4 percent in 2016.