Fitch raised the rating of Ukraine

Fitch повысило рейтинг Украины

Long-term Issuer default rating of Ukraine in foreign and local currency raised from level “B-” to “B”.

International rating Agency Fitch Ratings upgraded long-term Issuer default rating (IDR) of Ukraine in foreign and national currency from level “B-” to “B”. This is stated in the message of Agency on the evening of 6 September, the outlooks on the ratings are positive.

It is noted that Ukraine has demonstrated timely access to fiscal and external financing, improved macroeconomic stability and reduced fiscal debt, and a shortened election period, reduced domestic political uncertainty.

“We expect the continuity of macroeconomic policies, the stated commitment of the new government’s structural reforms and cooperation with international financial organizations means that Fitch expects to further improve the credit”, – stated in the message.

“We expect that public debt will decline to 47.9% of GDP (55,8% including the guarantees) by the end of 2019, a decline of almost 20 percentage points from a peak of 69.2% (80.9% of given guarantees) in 2016 and below the current median value “B” 57,5%, and will reach 44.4 per cent by 2021,” – said Fitch.

Goncharuk promises economic growth by 40% over five years

We will remind, according to the Ministry of economic development and trade, for seven months of 2019, Ukraine’s GDP grew by 4%.

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