The decision by Moody’s Investors Service to revise Russia’s credit rating while reducing the need for adapting the budgetary system to the fall in oil prices. This was stated by Finance Minister Anton Siluanov, reports “Interfax”.
“Rating Agency Moody’s shows the need of adapting the budgetary system to new realities in the commodities market,” he said. According to Siluanov, the government has prepared measures to promptly respond to “the current economic situation and considering the issue of the medium-term balanced budget.”
Siluanov noted that Moody’s took 2 months for a further analysis of the situation. According to him, the Ministry of Finance will be with representatives of agencies in regular contact and provide them with information “for an objective analysis of the state of the Russian economy”.