Economics
Russian Business Climate Hindering Rating Upgrades, S&P Says
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Russia needs a better business climate to bolster economic growth and win an upgrade of its investment-grade credit rating, according to Standard & Poor’s.
The government must deal with “structural impediments” to growth by fighting corruption, scaling back the state’s role in the economy and improving the judiciary, while moving away from the spending increases President Vladimir Putin has counted on for popularity, Kai Stukenbrock, S&P’s head of sovereign ratings for the Commonwealth of Independent States and the Middle East, said in an interview.