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13 May 2011, 12:41

Rustem Akbashev: “Improvement of credit rate will attract additional investments in Bashkortostan”

Bashkortostan steadily improves its credit rates. Thus, in April 2011 the analysts of the international rate agency “Standard& Poor’s” have raised the credit rate forecast for Bashkiria from “stable” to “positive”. What is the credit rate and what does it serve for?
“Per se credit rate is the index of confidence of creditors and investors, the index of reliability and stable health of the regional financial system” – the deputy Minister of finances RB Rustem Akbashev says, answering the questions of the news agency “Bashinform”.
What is the revision of the rate forecast based on?
The revision of the forecast is based on expectations on preservation of well-balanced financial and debt policy, continuation of the growth of economics and budget incomes.
What does it give to the Republic?
The rise of the rate forecast gives us a chance from one side to attract cheaper and more long-term loans and from the other side this is the contribution to improvement of the local investment attractiveness. The Republican leadership steadily pursues the policy, aimed at improvement of the investment climate, lowering of the administrative barriers for business and negotiates concerning attraction of new investments. In this connection the change of the credit rate from “stable” to “positive” is an additional contribution to these efforts. We believe that the investors, interested in cooperation with our Republic, will definitely pay attention to this good fact.
For the reference: Republic of Bashkortostan cooperates with the agency “Standard & Poor’s” during more than ten years. At present time the agency monitors the rates of 19 the most developed Russian regions. According to information of the analysts Bashkortostan stands behind only four of these regions: Moscow, Saint-Petersburg, Khanty-Mansiysky and Yamal-Nenets autonomous districts.
Translated by:Alfia Sharafutdinova