Fitch Ratings affirms Belarus Issuer Default Rating at “B” with a Stable Outlook

On July 20, 2018 Fitch Ratings affirmed Belarus's Long-Term Foreign- and Local-Currency Issuer Default Ratings at “B”, Stable Outlook.

The rating affirmed at “B” and the outlook reflects balance between improvement in macroeconomic situation, on the one hand, and certain potential risks, on the other.

The Agency noted stronger than anticipated economic activity recovery in Belarus. According to Fitch estimations, economic growth will amount to 3.5% in 2018. The upturn will be supported by the economic recovery in main trading partners and restoration in investment activity, availability of external financing as well as strengthening of domestic consumption.

Analysts of Fitch Ratings expect that the Republic of Belarus will be able to retain average inflation in 2018 at about 6%.

The Agency also affirmed the ratings of Belarus’ Eurobonds at “B”.