Fitch increased the forecast of GDP growth of Russia
International rating Agency Fitch increased the forecast of growth of Russian GDP in 2019 to 1.4% from 1.2%, according to report the Agency's Global Economic Outlook. Experts said that the country's industrial sector and construction growth is increasing.
in addition, the experts noted the increase in retail sales, despite measures to curb the debt burden from the Central Bank in unsecured consumer crediting. Also, the Agency raised the forecast of growth of Russia's GDP in 2020 and 2021 from 1.9% to 2%. Improved prognosis associated with a reduced risk of inflation and inflationary expectations, and weakening the global monetary system. Fitch expects inflation in 2021 will remain close to 4%.
we will Remind, in the beginning of the year, Fitch affirmed the sovereign ratings of Russia at BBB– with a positive Outlook. And the international rating Agency Moody's upgraded Russia's sovereign rating from Ba1 to Baa3.