Russia says outlook upgrade affirms policy, fiscal tightening must continue
[MOSCOW] The upgrade in Moody's outlook on Russia's debt confirms the government has adopted a correct macroeconomic policy, but more needs to be done to reduce budget deficit, finance minister Anton Siluanov said on Friday.
"The next step should be to reduce the unsustainable in the long-term budget deficit and ensure transition to a stable economic growth," Mr Siluanov told journalists.
Overnight, Moody's rating agency changed its outlook on Russia's debt to stable from negative, but left rating unchanged.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Trade between Singapore and Asean was at S$295.6 billion in 2023
UK passport control hit by outage causing long waits at airports
Fed’s Kashkari says rates likely on hold for ‘extended period’
China’s Xi lands in Serbia after talking Ukraine, trade in France
Stormy Daniels details alleged sex with Trump at hush money trial
Indian vote body tells X to remove Modi party video targeting Muslims, opposition