Finance: Moody’s reaffirms Belarus’ sovereign ratings at B3

At the same time, the agency maintained positive forecasts about Belarusian banks for the next year and a half.

The global rating agency Moody’s has reaffirmed Belarus’ sovereign ratings at B3 with a “stable” outlook, but worsened its macroeconomic outlook for 2019-2020, the agency said in a report.

Experts connected the worsening of its macroeconomic forecast for Belarus with the country’s potential losses after the implementation of tax maneuver in the oil sector in Russia and the lack of adequate compensation.

The report said the Belarusian authorities estimate the cost of the implementation of the tax maneuver in Russia at the level of 10 billion U.S. dollars during 2019-2024.

Belarus’ GDP growth will decline to 1.8 percent in 2019 and to 1.6 percent in 2020 after its 3 percent growth in 2018, the agency said.

At the same time, the agency maintained positive forecasts about Belarusian banks for the next year and a half.