31 March 2011, Thursday, 15:38

Standard& Poor’s – in the nearest future Bashkiria can expect substantial economic upsurge

author: Alfia Sharafutdinova

The President of Bashkortostan Rustem Khamitov has held a meeting with the analysts of the rate agency “Standard & Poor’s” in the Republic House today.

“We work with Republic of Bashkortostan for many years” – the representative of the agency Boris Kopeikin said at the briefing, held after the meeting – “And we watch many changes here fr om the point of view of the relations with investors and from the point of view of management, we were meeting with the Republican leadership today for discussion of all these aspects”.

Answering the question what the region need this rate for, the analyst has answered that it needs it first of all for saving budget money.

“The presence of such rate, moreover a high one, allows the Republic to save means, allocating these saved means for new schools, hospitals and for the rise of wages”.

At present time “Standard & Poor’s” maintains the rates of 19 Russian regions.

“This is less than a half but these are the most powerful regions, i.e. the regions, aimed at steady development” – Boris Kopeikin stated – “And only four regions of 19 have the rates higher than Bashkortostan: Moscow, Saint-Petersburg, Khanty-Mansiysky and Yamal-Nenets autonomous districts, wh ere the main oil and gas resources are concentrated”.

Thereby the agency estimates the Republic very high but the rate doesn’t characterize only the present moment – this is the matter of prospection first of all.

“Your Republic can expect very high indices of economic upsurge in the nearest future – higher than the average all-Russian ones and, sure, we will lay these expectations in our decisions concerning the rate of the region” – Boris Kopeikin stated – “The nearest economic upsurge stands for first of all the rise of budget intakes and the possibility to finance the expenses and repayments. By the way, Bashkiria possesses very low debt and substantial reserves now”.