OREANDA-NEWS. October 14, 2011. International rating agency Fitch Ratings has again confirmed credit rating of the Republic of Karelia on the international scale at the 'ВВ-' level. The National rating is confirmed at 'A + (rus)'. The forecast on ratings is 'Stable'.

It should be mentioned, that the rating this year was confirmed in the context of accruing debt crisis in the euro-zone and distribution of its negative influence on the economy of Russia.

In the circumstances concerned ratings of ten of eleven Russian regions rated by the agency have remained without positive changes.

Therefore, confirmation of the credit rating of the Republic of Karelia at a high international level is the attribute of stable credit status, despite of complex conditions of the budget execution of the current year.

In the press release of the Agency it is pointed out that in 2010 economy of the region has shown restoration as well as 8.5% growth of total regional product. On the assumption of actual results of the budget execution in the first six months of the current year, Fitch expects improvement of budgetary parameters of the Republic of Karelia in 2011.