MINSK, 7 October (BelTA) - S&P Global Ratings affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on Belarus. The outlook remains stable, BelTA learned from the Belarusian Finance Ministry.
The agency said that Belarus' macroeconomic policy mix has improved in recent years and is now characterized by strengthened foreign exchange reserves and limited inflation.
The outlook is stable because S&P analysts expect that Belarus' external imbalances will not escalate while its fiscal stance remains comparatively tight over the next 12 months, and that the government will retain access to international capital markets and support from the Russian Federation to refinance upcoming public debt redemptions.
S&P expects Belarus' economic growth to average 2% per year over the medium term.
