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BRIEF-S&P revises Russian Federation Sovereign outlook up to positive from stable
March 17, 2017 / 4:57 PM / 6 months ago

BRIEF-S&P revises Russian Federation Sovereign outlook up to positive from stable

March 17 (Reuters) - S&P Global Ratings:

* Revises Russian Federation Sovereign outlook up to positive from stable; Current rating is BB+

* Outlook indicates we may raise our ratings if the Russian economy continues to adapt to the relatively low oil price environment

* Expect GDP growth in Russia will pick up, averaging about 1.7% in 2017-2020

* Expect Russia will return to positive economic growth in 2017 after a two-year recession

* “We do not foresee the rapid lifting of U.S. sanctions”

* Assume a net outflow of foreign direct investment through 2020 of around 1% of gdp per year

* Forecast gross external financing requirement for 2017-2020 will average about 66% of current account receipts plus usable reserves

* Expect the general government deficit will narrow to 2.4% by 2019 Source text (bit.ly/2nhMxr0)

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